Consumer
Asda Forecasts Profit Hit as Grocer Invests to Win Back Shoppers
An Asda Supermarkets supermarket in Rayleigh, UK.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Asda is warning of lower profitability this year as Chairman Allan Leighton overhauls Britain’s third-biggest supermarket chain to win back customers.
Sales in 2024 fell 3.4% on a like-for-like basis, excluding fuel, Asda reported Friday. The grocer said it’s reducing prices, boosting the availability of items and seeking to improve the shopping experience to better compete with rivals including discounters Aldi and Lidl.