Tag: Tesco price war

Tesco price war: CEO Ken Murphy braces for tougher fight as £500m cost cuts begin

Tesco is doubling down on cost cuts by £500m as CEO Ken Murphy says rivals have "upped their game" and the market shifts into a tougher phase of competition. The retailer posted a 5.1% rise in like-for-like sales and a 5.9% lift in food. Aldi’s Giles Hurley calls it a “phoney war,” but Tesco says it’s staying “toe-to-toe” while protecting quality and innovation.