Tesco admits £1.11 retail price for wine

09 July, 2010

Tesco has admitted discounting a Bulgarian wine brand to as little as £1.11 a bottle.

The retailer, which has been vocal in its support for a ban on below-cost selling and a minimum price for alcohol, confirmed that managers had been authorised to clear stocks of Silver Rock Chardonnay by marking the wine down to £1.50 or less.

According to the Wine & Spirit Trade Association, a typical bottle of wine sold in the off-trade attracts £1.69 in excise duty and 64p in VAT.

The 12% abv wine, made by Domain Menada, usually sells for £2.99.

Writing in the Telegraph in May, chief executive Sir Terry Leahy said: “We welcome the new Government’s commitment to act on below-cost selling of alcohol and today I pledge that we will support Government-led action to make this happen across the UK. We will also support any future discussions on a minimum price for alcohol.”

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