business news in context, analysis with attitude

Wal-Mart owned Asda Group in the UK announced that it will cut prices in its stores by the equivalent of $73 million (US), in a move that analysts see as a response to the merger of William Morrison Supermarkets and Safeway Plc. Morrison has said that once the acquisition of Safeway is complete, probably next week, it will cut prices by six percent.

Asda also announced that it plans to open two more George stand-alone clothing stores this May, following the apparently successful opening of a first such unit last year.
KC's View:
The UK is such an interesting market, in part because Wal-Mart keeps stirring things up there, and in part because so many of the players seem obsessed with price cuts but manage to combine them with a unique take on retailing.