Asda pledge to slash prices and Morrisons report Christmas upturn

Morrisons performed better than expected over the Christmas period, while Asda aim to on top of the supermarket game, investing £500m into slashing prices.
Christmas 2015, compared to 2014, was more of a success for Morrisons, as it said that is saw a rise in like for like sales, excluding fuel, of 0.2%.
This is good news for the supermarket, which has seen a lot of closures and sales falls over the last year.
All of the big four stores, Tesco, Morrisons, Asda and Sainsbury’s have suffered during the climb of the German discount stores.
In the wake of Christmas, however, it is important for these stores to keep up the momentum on sales. Asda have announced that they will be spending a huge sum of money into ensuring that they can keep customers coming back for their offers.
“We must take radical action to win back our customers,” said Andy Clarke, chief executive of Asda.
“We expect that 2016 will be another year of intense pressure at a macroeconomic level, in addition to sales remaining under strain from price deflation, a continued competitive background throughout the sector, and radically changing customer shopping habits.”