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Price war: Morrisons lost its status as Britain’s fourth-biggest supermarket to Aldi two years ago
Morrisons is bringing out the big guns and launching price cuts for loyalty card holders in a bid to lure back customers.
The grocery chain, which has been privately owned since 2021, has lost customers to German discount chains and its status as Britain’s fourth-largest grocery chain to Aldi two years ago.
Market share was 8.6 percent for the 12 weeks to August 4, compared with 8.7 percent year-on-year.
But Alex Rogerson, marketing director, said: “Generating strong value for customers remains the number one priority and we are bringing out the big bazooka and cutting prices on more than 2,000 products.”
Bought by US private equity group Clayton, Dubilier & Rice for £7bn, Morrisons has said it has cut its massive debt load by 35 per cent to £4bn from £6.2bn.
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