date:May 09, 2014
aribas in London. They only started cutting prices at the very end of that period so the deflationary impact would be pretty small.
Morrisons' shares fell 1% to 188.9 pence in early London trading. Theyve declined 27% this year.
It last week escalated the grocery battle by cutting prices by an average of 17% on 1,200 products from fruit scones to baby wipes, the second round of cuts since Morrison said on March 13 that the strategy will cause profit to plunge.
Profit Forecast
The price cuts