Asda returns to profit boosted by loyalty scheme success

Asda has returned to profit, posting a 24% rise in annual earnings, reflecting a 7% rise in total sales as it reduced its debt.
The retailer reported an adjusted EBITDA of £1.078bn for 2023, with total sales (excluding fuel) reaching £21.9bn, with like-for-like sales up 5.4% as it benefited from about six million customers using its loyalty app.
Around half of all sales are linked to its reward programme, Asda Rewards, which it described as a “key revenue driver” for the