ST. LOUIS --
Schnuck Markets here has lowered prices on more than 10,000 items in 68 stores in the St. Louis and Springfield, Ill., markets, becoming the latest grocery chain to adopt an everyday-low-price stance in the face of new competition. The company in a statement said the changes represent “a significant, long-term investment” in pricing made possible by more efficient operations. “We met with our associates and explained that if we could cut our operating costs, we could pass those savings onto our customers. They rose to that challenge, and now customers are reaping the benefits,” Scott Schnuck, chairman and chief executive officer, said in a statement. Schnucks experimented with lower everyday prices on about 3,200 items in select stores a year ago and was encouraged by the results. Several retailers have announced a shift to EDLP strategies in recent years, including Giant Eagle, Raley‘s and recently, Stop & Shop/Giant-Landover.