Market News

Metro to Price Match on Staple Items

Metro Inc. said that its Food Basics discount stores will be competitive in price-matching staple products as it faces stiff competition from rivals such as Wal-Mart Canada. CEO Eric La Fleche said during a retail conference that Metro has already matched prices on milk and has cut its price on bread to below its competitors'. Late last month, Wal-Mart decided to cut prices on food staples such as milk and bread in Ontario, Canada's most populated province, in a bid to attract consumers who have been hit hard by the economic slowdown. http://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSN1651345820080916 Source: Canadian Grocer E-Newsletter September 26,2008