Analysts said they expected to cut their annual profit forecasts by between 1% and nearly 3% in the light of ongoing price-cutting in the grocery market as the major supermarkets try to take on the fast-growing discounters Aldi and Lidl.
A spokesman for the firm declined to comment on the latest Ofwat proposals, saying: "We will read the draft determination carefully and respond in due course, as part of the ongoing price review process".
Even Fairtrade bananas are being sold these days at the ludicrously low 68p a kilo, as a loss leader, because all bananas are now part of the ongoing price wars between chains.
Despite these positive quarterly sales figures, the supermarket has warned of "challenging" trading and ongoing price pressures, posting an 8.2% fall in annual profits.
The American Booksellers Association, a trade group that represents small bookstores (not Barnes and Noble and the other big guys), has asked the Department of Justice to investigate whether or not Amazon, Wal-Mart, and Target have "[devalued] the very concept of the book" with their ongoing price war.
This would demonstrate to the regime the power of the U.S. arsenal and the ongoing price it would pay for further weapons tests.
On June 21st, Barnes & Noble (B&N) slashed the price of its "Nook" e-reader with wireless connectivity from $259 to $199, the latest salvo in an ongoing price war.
"This year should end on a bit of a high note, with more visits that week, and sales up versus last year despite the ongoing price deflation," he said.
Some domestic companies benefit from the ongoing price declines.
"Today's results show that even Aldi can't escape the clutches of the ongoing supermarket price war.
