Woolworths flags price cuts

 In Australia, NewZealand, Woolworths
Shoppers can expect some hip-pocket reprieve this year, with Australia’s dominant supermarket chains Woolworths and Coles flagging price cuts in the $88 billion food and grocery market.
After reporting "subdued" food and liquor trade in December and January and market-share loss in groceries, No.1 supermarket Woolworths plans to invest more than half a billion dollars on cutting prices and improving its stores.
"We want to make sure that we remain the market-leading food offer in Australia and to do that we’ve got to have the best prices, we’ve got have the best in-store service and we’ve got to have the best stores," Woolworths chief executive Grant O’Brien said.  Sydney Morning Herald – Read more…

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