Delhaize Group has revealed plans to cut operating costs by €300m (£267m) by 2012 and intends to introduce a more price competitive strategy from 2010 across all its fascias.

The Belgium-based group intends to cut operating costs through fascia-specific initiatives and by increasing shared services across the group.

Delhaize is also gunning to triple the number of store openings for its newer operations, including its low-cost supermarket formats – the fast-growing Bottom Dollar Food chain in the US and Red Market in Europe, which launched this year – and in markets such as Greece, Romania and Indonesia, to help drive growth.

The group will also introduce its health and wellness initiatives, such as nutritional labelling for private labels, into its Belgian and Greek stores.