date:May 19, 2014
A price war slashing the cost of products from broccoli to baby wipes is threatening the credit ratings of U.K. supermarkets as they battle to woo back customers from German discount chains Aldi and Lidl.
Wm Morrison Supermarkets Plc, the smallest of the so-called big four grocers, predicts profit will fall by about 50 percent after it promised 1 billion pounds ($1.7 billion) of price cuts over three years. Tesco Plc, the largest, has pledged reductions of at least 200 million pounds following