Asda profit boosted by loyalty scheme and lowering prices

Asda underlying profits swelled by a quarter last year, fueled by increased food and clothing sales.
The retailer reported an adjusted EBITDA of £1.078bn for 2023, with total sales, excluding fuel, jumping 7% to £21.9bn. Like-for-like sales rose 5.4%.
Around half of all sales are linked to its reward programme, Asda Rewards, which it described as a “key revenue driver” for the business, with around six million customers using the app.
The grocer said that customers were r