The war for customers that has wreaked havoc at supermarkets is becoming more intense after US-owned Asda launched a new round of price cuts.The company has slashed its prices in recent weeks and according to research by US investment bank Morgan Stanley it is now 5 per cent cheaper than Sainsbury’s and Tesco on a range of key branded goods.The surprise drop in prices at Asda – which is owned by the world’s biggest retailer Wal-Mart – comes amid major structural change in the supermarket sector. Cost cutting: The company has slashed its prices in recent weeks and according to research by US investment bank Morgan StanleyNews of the reductions emerged after a fresh round of financial results from leading retailers, which showed that the price wars and increasing competition from discounters Aldi and Lidl are taking a toll on profits.Morgan Stanley’s price survey conflicted with claims by Sainsbury’s chief executive Mike Coupe who said last week that his prices relative to Asda and Tesco ‘have never been better’.

Sainsbury’s reported annual underlying pre-tax profits down £117 million.A supermarket source said: ‘Asda chief executive Andy Clarke isn’t happy with where Asda is at the moment and he wants to put clear water between themselves and Sainsbury’s and Tesco.’With Asda finding new vigour and Tesco working hard to focus its attention on smaller ranges and lower prices, some analysts believe that Sainsbury’s could face a further profit squeeze this year.Bkt Tyres For SaleBut Asda’s position has been undermined by the growth of German discounters Aldi and Lidl and moves by rivals to close the gap.Boxer Puppies For Sale $200Morgan Stanley said that, prior to April, Asda’s lead on price had ‘faded’ and the major chains were all within 2 per cent of each other when 500 branded goods were compared.Puppies For Sale Fontana Ca

But it added: ‘In April, however, it seems Asda has started to address this anomaly with our sample basket being 5.1 per cent cheaper than Tesco’s and 4.6 per cent cheaper than Sainsbury’s.’It said Sainsbury’s and Tesco were within1 per cent of each other and Morrisons was the most expensive.In a separate survey by The Grocer magazine, a basket of 33 items at Asda cost £61.59 – 5 per cent cheaper than the average price at other major supermarkets. Morrisons was second cheapest in The Grocer survey and was 2.8 per cent more expensive than Asda.Meanwhile, Sainsbury’s came under fire last night for failing to disclose its commercial income – the billions in charges and penalties levied from suppliers.It was criticised by accountancy firm Moore Stephens, which advises grocery suppliers who are struggling for survival, for failing to comply with Financial Reporting Council recommendations issued in December.Moore Stephens partner Duncan Swift said: ‘Given that Tesco and Morrisons have both disclosed details of their supplier income in response to the FRC’s call, it is surprising that Sainsbury’s has chosen not to follow suit.‘

It is hard to see how suppliers are going to start getting a more equitable deal from supermarkets unless they become more transparent.’Sainsbury’s claims the information is ‘commercially sensitive’.The issue of commercial income, including charges for stocking goods, contributions to marketing costs and penalties for late deliveries, emerged as one of the root causes of Tesco’s £263 million accounting scandal last year.The Mail on Sunday found that charges imposed on suppliers can account for more than a third of supermarket profits.Changes in the habits of shoppers are adding to the pressure on the big chains. Customers are making more visits to convenience outlets or shopping online. By 2022 it is estimated that 60 per cent of goods will be bought in large stores compared with 70 per cent today. Explore a new realm of entertainment thanks to the cutting-edge and evolving technologies at the heart of modern TVs. We’re on hand to help you find the TV to suit you, no matter what you want to watch and how you want to watch it.

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