New Tesco (TSCO.L) chief executive Ken Murphy has parked his tanks on the lawn of Aldi and Lidl, promising to go toe-to-toe with the German discounters on low prices.
In his first media call with journalists since taking the top job, Murphy vowed to keep Tesco’s prices competitive with rivals as the UK faces a historic recession and the threat of a possible no deal Brexit.
“We are committed to providing value regardless of the circumstances,” Murphy said on Wednesday. “Particularly if we head into a recession — if times get tough — we will be even more focused on value.”
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Tesco launched an “Aldi Price Match” guarantee in March and said on Wednesday that it had begun to win customers