Asda revenues drop ahead of festive trading period

Asda recorded a sales decline ahead of the festive trading period, making it the only major supermarket to experience a revenue drop before Christmas.
The grocery giant’s sales fell 4.3% over the 12 weeks to 30 November, Worldpanel data revealed.
The retailer’s market share also sunk 0.9% to 11.5% over the quarter.
Rival supermarkets Tesco, Sainsbury’s, Morrisons, Aldi and Lidl all saw sales rise during the period, the industry tracker showed.Related Story Ocado remains fastest