Tesco Takes Aim at Combined Sainsbury, Asda With Price Cuts

Tesco Plc racked up its 10th consecutive quarter of growth and cut prices in a pre-emptive strike against rivals preparing to challenge its role as the U.K.’s largest retailer. The supermarket operator has lowered prices on its own-brand meat, fruit and vegetables, countering reductions promised by J Sainsbury Plc as part of its planned acquisition of Walmart Inc.’s Asda -- a deal that could vault the combined companies ahead of longtime No. 1 Tesco. The reductions followed faster-than-expected sales growth in the latest quarter.