Printer Friendly


Cut-throat competition and plunging prices have landed Asda with its worst quarterly sales ever.

The challenge from discount upstarts Aldi and Lidl, as well as food price deflation, sparked a 7.5% fall in second-quarter sales - the eighth quarterly dip in a row.

Asda has launched a PS1.5billion price-cutting drive and a product overhaul. In January, it unveiled plans to axe hundreds of UK jobs, mainly hitting its Leeds head office, which employs 3,000 people.

Doug McMillon, boss of Asda owner Walmart, said: "In the UK the competitive environment and food deflation continued to challenge the market.

"We're simplifying and strengthening our offer through improved availability, reducing costs and driving sales through strategic price investments."

No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2016 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Features; Opinion Column
Publication:The Mirror (London, England)
Geographic Code:4EUUK
Date:Aug 19, 2016
Previous Article:Screens that become a sight for sore eyes.
Next Article:Co-op hit by rate worries; Setbacks hammer bank recovery.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters