Belfast Telegraph

More woe for Asda as sales drop yet again

By Holly Williams

Asda has revealed further trading misery after it posted another hefty drop in sales as figures also confirmed it has lost its position as Britain's second biggest supermarket to rival Sainsbury's.

The chain, which has 17 stores and more than 4,500 staff in the province, said like-for-like sales fell 4.5% in the 13 weeks to September 30.

That comes after a 4.7% fall seen in the group's second quarter - its worst ever quarterly sales slide, described at the time by Asda boss Andy Clarke as the group's "nadir".

Mr Clarke said the latest sales decline came in "another challenging" quarter for the group, which is owned by US retail giant Walmart. But he said he had put faith in his recently-announced turnaround plan - dubbed Project Renewal - to bolster trading.

The quarterly figures come as industry data from Kantar Worldpanel also showed market share losses have seen Asda overtaken by Sainsbury's.

Belfast Telegraph