ASDA SUFFER ANOTHER SALES DROP
Asda has suffered a drop in sales for the third quarter in a row, reporting a 3.9pc fall in like-for-like sales for the 15 weeks to April 19
But Andy Clarke, chief executive, has said he remains committed to Asda’s five-year strategy, criticising the money-off vouchers offered by some of his rivals. He commented: “Although I still believe that 18 months ago we did a great job of predicting changes, we could not have foreseen what’s happened to others and the moves they have had to make in order to restore their business – creating an impact on us in the short-term.
“Whilst I take no pride in reporting a negative number, we are in a period of expected turbulence, not distress. We won’t buy short term sales at the expense of long term profitability. Throughout this period of change in our sector, Asda has been first to market with its response”, he added.