date:May 19, 2014
g capital spending to no more than 2.5 billion pounds a year from 3 billion pounds last year and a 2009 peak of 6.6 billion pounds. Morrison has cut its capital expenditure by half to 550 million pounds after starting its online grocery service this year and accelerating the rollout of its nascent convenience-store business.
Price King
The companies are banking on online, convenience stores and loyalty cards combined with rock-bottom prices attracting shoppers back from the discounters, which