Asda sales shrink as customers switch to supermarket rivals
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Asda sales dropped further over the latest quarter as the debt-laden grocery giant lost more customers to its largest rivals. “We are still happy with the longer-term progress we have been making.” In the fresh update, Asda also revealed that online sales grew over the latest quarter, with a 1.4% rise in online grocery and 3.9% jump in George.com sales. Mohsin Issa, Asda co-owner, said: “These results highlight a period of robust online performance and a record start to George’s Back-to-School campaign. “As we move forward, we remain committed to maintaining our value credentials, enhancing the product offer, and executing our long-term growth strategy to build an even stronger Asda for our customers and communities.” The update comes two months after Mohsin Issa’s brother Zuber exited Asda, selling his 22.5% stake to TDR Capital to focus on his petrol forecourts business.
History of this topic
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