Asda profits fell by 10% in 2017

Retailer blamed investment in price cuts as it fought back against Aldi and Lidl Asda, the supermarket chain being taken over by larger rival Sainsbury’s, has revealed a 10% slump in annual profits for 2017.The supermarket blamed price cuts and an overhaul of its own-brand products for the decline in pre-tax profits as its regrouped to fight back against the discounters Aldi and Lidl.Continue reading...