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Wal-Mart's Asda Group in the UK announced that it is cutting 17.5 percent, or the equivalent of about $150 million (US), off its HBC products with 85 million pounds of price cuts. The move is targeted at Boots, the nation's well-known HBC retailer.

The move comes just a couple of weeks after Tesco, the UK's biggest food retailer, announced that it is cutting prices by an average of eight percent on more than 600 items, with many of the reductions in health and beauty care items. Tesco's cuts are the equivalent of more than $125 million (US).
KC's View:
We said two weeks ago that Tesco's immediate battle may be with Boots, but that the war is against Wal-Mart's Asda Group.

We rest our case.