By Jennifer Faull

Asda suffered its seventh consecutive fall in sales – this time down 5.7 per cent in this year’s first quarter – with the Walmart-owned giant accepting that growth from the discounters and the intense price competition has left it in a precarious position.

The retailer has earmarked some £1.5bn to be invested into lowering the price of goods on its shelves (£500m of which was ploughed into the fund at the beginning of the year). However, it has failed to attract shoppers through the doors.

Walmart’s chief financial officer, Brett Biggs, said today (19 May): “The UK continues to struggle, due primarily Read full story ›

Source: The Drum