TESCO PREPARES FOR COMPETITION WITH WAL-MART

LONDON -- Tesco here isn't afraid of Wal-Mart.The U.K.'s largest food retailer said it is prepared to compete with the Bentonville, Ark.-based retail giant both in Great Britain and on foreign shores.On the homefront, Tesco said it will announce plans for its biggest price-cutting initiative ever. The company said it is stepping up its price-cutting campaigns with plans to invest $162 million in price

LONDON -- Tesco here isn't afraid of Wal-Mart.

The U.K.'s largest food retailer said it is prepared to compete with the Bentonville, Ark.-based retail giant both in Great Britain and on foreign shores.

On the homefront, Tesco said it will announce plans for its biggest price-cutting initiative ever. The company said it is stepping up its price-cutting campaigns with plans to invest $162 million in price cuts this year. The move closely followed an announcement by Asda, wh

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