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Aldi CEO: “We will never be beaten on price”

15 February 2016

Budget retailer Aldi has increased pressure on rival supermarkets by announcing a new wave of price cuts.

Matthew Barnes, Aldi chief executive, said other supermarket chains will never match its prices. The company will lower prices on around four per cent of its 1,500 products. 

It comes as Big Four retailers, Sainsbury’s, Asda, Morrisons and Tesco, each announced widespread price cuts. 

“I wanted to set the record straight that we will never be beaten on price – that is cast in stone,” Mr Barnes said.

Sainsbury’s, Tesco and Asda are aiming to lower the price of individual items by phasing out multibuy deals. 

Asda will also invest a further £500million in slashing prices, while Morrisons has vowed to “cut every penny we can”.

Mr Barnes said the efforts of bigger retailers were merely “smoke and mirrors”. 

The company will reduce prices on orange juice, whole chickens and steaks. Mr Barnes added that the savings would come from “Aldi’s margins rather than suppliers'”.

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