Arcadia boss Sir Philip Green has vowed to challenge the UK's biggest supermarkets with BHS' new food offering, by getting "competitive" on price.
Green has revealed BHS will undercut the likes of Tesco by 10% on branded goods, as he acknowledged that the department store is entering the grocery market at its most competitive moment "for some time".
The first two BHS stores to begin selling food are located in Staines and
"There’s no point opening up and getting torn apart because we haven’t got competitive prices," said Topshop-owner Green.
"We know what we’re getting into – the most competitive food landscape for some time. On the basis that everyone is going into the high street and convenience, maybe it’s an opportunity.
"If you don’t buy a ticket you can’t win the lottery," he added
The price war between
The response was partly driven by the success of budget grocery retailers, and followed on the heels of Asda’s announcement in January that its investment of £50m in price promotions would make discounters like Aldi and Lidl look "expensive".
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