Asda posts worst annual figures since Walmart takeover

Supermarket is worst performer of ‘big four’ grocers as fierce competition pulls underlying sales for the year down 5.7%Asda has posted its worst annual figures since being taken over by the American grocer Walmart, as fierce competition in the UK supermarket sector took its toll.Britain’s third biggest supermarket chain admitted performance was “behind expectations” after pre-tax profit for 2016 fell 19% to £791.7m.Continue reading...