B&M Joins Retailers in Price Cut Push: The London Rush
Trolleys outside a B&M Bargains store, operated by B&M European Value Retail SA, in Ipswich, UK.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
The UK government’s push to discourage companies from profiting from inflation seems to be resonating, at least among retailers. Discount chain B&M reiterated its “relentless focus on pricing” to help customers navigate the cost-of-living crisis, while Ocado announced price cuts for over 100 products, following similar moves by competitors in recent weeks. That should bring some relief to Rishi Sunak or, at the very least, help his administration to focus on the unfolding crisis that is engulfing the water sector.
Here’s the key business news from London this morning: