It’s been a fifth successive quarter of falling revenue at Asda, as CEO laments the “challenge” nature of the UK grocery market
Asda has seen like-for-like sales fall by 4.5% in the three months to the end of September, its fifth quarter of falling revenue.
In the previous quarter, Asda’s sales slumped 4.7%, marking its worst performance in its 50-year history.
The retailer said, sales volumes remained under pressure from discount supermarkets such as Aldi & Lidl.
Asda chief executive Andy Clarke said the UK grocery market continued to be “challenging”.
It is now the worst performing of the Big Four supermarkets.
Nevertheless, Clarke added that Asda had the “financial strength and clear plan to sustain us through this period, while we take appropriate and considered action to further strengthen our competitive position”.