Waitrose is to take on the might of Tesco by price-matching 1,000 of its biggest-selling items with the UK’s largest supermarket chain.
The move marks the first serious attempt by Waitrose to directly compete with a supermarket rival on price. It will compare prices on the list of top-selling brands with those on Tesco.com twice per week.
The comparison will exclude multi-buys, own-label lines and temporary promotions, as well as pricing at Tesco Metro and Tesco Express convenience stores.
Earlier this month Waitrose announced a rise in operating profits of 6% to £127.8m, while total sales for the past six months up 11.3% to £2.4bn.
Managing director Mark Price said he expected to finish the year with like-for-like sales on food up 4%.
Duchy ‘will be significant part’ of Waitrose (20 September 2010)
Waitrose outstrips rivals with first-half growth (16 September 2010)
Waitrose to badge c-stores with Local tag (28 August 2010)