Asda's Market Share Declines Amid Sales Struggles

Asda has reported a significant decline in sales, trailing behind major competitors with a 3.5% decrease in overall sales and a market share drop from 13.5% to 12.5%. The supermarket's struggles are highlighted by its lackluster performance in the grocery sector, where rivals Tesco and Sainsbury's have seen growth in market share and sales. Asda's chairman, Lord Stuart Rose, acknowledged the company's challenges but emphasized ongoing investments to enhance customer experience, including a £30 million initiative to increase staff presence in stores. Despite a robust Back-to-School season boosting George brand sales, overall group revenues have stagnated with a 0.5% increase year-to-date and a 2.5% decline in Q3. Meanwhile, discounters like Lidl and Aldi continue to capture more market share, further intensifying competition. The company is also facing criticism for recent job cuts at its headquarters, although it claims compliance with employment laws and has provided additional compensation to affected staff.