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Tesco, the UK's biggest food retailer, announced that it will cut prices by an average of eight percent on more than 600 items, with many of the reductions in health and beauty care items.

The cuts are the equivalent of more than $125 million (US).

Analysts say that the move positions Tesco to better compete against Boots, the nation's well-known HBC retailer.
KC's View:
The immediate battle may be with Boots. But the war is against Wal-Mart's Asda Group. Make no mistake.