Asda faces showdown with suppliers over price cuts [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
Asda is facing a showdown with suppliers over price cuts as it battles to win back shoppers with bigger deals. The supermarket will on Tuesday tell representatives from more than 600 food and drink brands that they need to help it to become more competitive. At its annual supplier conference, Asda bosses are expected to pile pressure on some of its biggest partners, including the tinned-tuna makers John West and Princes, to agree to deeper price cuts. Allan Leighton, Asda's chairman, has argued that he wants his supermarket to be at least 5pc cheaper than rivals. Grocery sources suggested some of the largest brands were still holding back on lowering their prices. One industry source said certain food makers had previously agreed to Asda price cuts, but experienced a resulting sales boost so were “reluctant to do any more”. Asda executives are expected to argue this week that it is in suppliers' interests to agree to lower prices for the Leeds-based grocer, helping to dri
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