Sarkozy slams hypermarkets for dragging feet over price cuts

6th September 2004, Comments 0 comments

PARIS, Sept 6 (AFP) - French Finance Minister Nicolas Sarkozy pressed representatives of major retailers and industrial groups Monday to honour commitments to lowering name brand prices in large stores.

PARIS, Sept 6 (AFP) - French Finance Minister Nicolas Sarkozy pressed representatives of major retailers and industrial groups Monday to honour commitments to lowering name brand prices in large stores.  

Sarkozy checked on progress towards meeting a two-percent price decrease agreed on June 17, criticising the fact that "only half the path had been travelled", according to a participant who wished to remain anonymous.  

Retailers and manufacturers had struck a deal with the government to cut prices by two percent on about 5,000 items, with the burden split on an equal basis between the two groups.  

On Monday, the finance minister pointed out that to date, decreases of just one percent had been made on a total of 2,500 products.  

He gave the representatives until September 20 to realise a second round of price cuts, threatening to publicly identify those actors that fell short of their pledges.  

On Thursday, Sarkozy is due to visit a large supermarket in the northern city of Lille to plead his case for lowering the prices on name brand merchandise.

 

© AFP

 

Subject: French News

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