Asda sales down 1.3%
Asda parent Walmart said that the supermarket saw a sales decline of 1.3% during the fourth quarter of 2019.
Walmart said that its consumer spending remained subdued in a challenging environment in the UK, citing research from Kantar that sales for online grocery continued to outpace the market.
The supermarket giant also said that gross profit rate in its UK business declined primarily as a result of strategic price investments, discounting in apparel and a shift in mix towards lower margin categories.
According to Kantar Asda has the third-largest market share for grocery retailers in the UK, accounting for 14.9% of the market in the 12 weeks-ending 26 January. It said that sales had declined 2.2% year-on-year.