Tesco Ireland has slashed prices in its 11 stores along the border in the Republic in a bid to stem the tide of cross-border shopping in Northern Ireland.
Tesco closed all its border stores on Saturday evening, refurbished them over the weekend and reopened them on Tuesday with major price reductions and extended ranges. The stores are at Bailieborough, Ballinamore, Cavan, Carrick on Shannon, two in Dundalk, two in Drogheda, Letterkenny, Monaghan and Sligo.
"It has been a challenging time for everyone following the fall in sterling but now we have changed how we buy and have made additional investment we are able to make these changes for consumers," said Tesco Ireland chief executive Tony Keohane.
As a result of these changes, Tesco claimed the price gap with the north is now at its lowest since the break with sterling in 1979.
Prices on 12,500 goods across all categories at the 11 stores were reduced by an average of 22%, with many price cuts exceeding 25%. Tesco says the new prices are long-term structural changes, not promotional prices.
"This substantial investment will enable us to compete in the long-term with prices north of the border," added Keohane.
However, one rival store manager in Northern Ireland said he did not think the move would stop customers from the Republic crossing the border.
"We are not worried because we are still 10% cheaper," he said.
Tesco closed all its border stores on Saturday evening, refurbished them over the weekend and reopened them on Tuesday with major price reductions and extended ranges. The stores are at Bailieborough, Ballinamore, Cavan, Carrick on Shannon, two in Dundalk, two in Drogheda, Letterkenny, Monaghan and Sligo.
"It has been a challenging time for everyone following the fall in sterling but now we have changed how we buy and have made additional investment we are able to make these changes for consumers," said Tesco Ireland chief executive Tony Keohane.
As a result of these changes, Tesco claimed the price gap with the north is now at its lowest since the break with sterling in 1979.
Prices on 12,500 goods across all categories at the 11 stores were reduced by an average of 22%, with many price cuts exceeding 25%. Tesco says the new prices are long-term structural changes, not promotional prices.
"This substantial investment will enable us to compete in the long-term with prices north of the border," added Keohane.
However, one rival store manager in Northern Ireland said he did not think the move would stop customers from the Republic crossing the border.
"We are not worried because we are still 10% cheaper," he said.
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