🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Asda's sales slump as big UK supermarkets struggle

Published 04/05/2016, 09:43
© Reuters. A company logo is pictured outside an ASDA supermarket near Manchester northern England.
MRW
-
TSCO
-
SBRY
-
WMT
-

LONDON (Reuters) - Sales at Wal-Mart's (N:WMT) British supermarket chain Asda (N:WMT) fell 5.1 percent in the 12 weeks to April 24, the worst performance in a period when all four of the country's big chains saw sales declines, industry data showed on Wednesday.

Market researcher Kantar Worldpanel said sales at market leader Tesco (L:TSCO) fell 1.3 percent, ending four months of improvement, while Sainsbury's (L:SBRY) and Morrisons (L:MRW) saw falls of 0.4 percent and 2.6 percent respectively.

Prices of groceries in Britain have been declining every month since September 2014 as the traditional market leaders fight competition from fast-growing discounters Aldi [ALDIEI.UL] and Lidl [LIDUK.L].

Sainsbury's, Britain's second biggest supermarket, reported a second straight year of profit decline earlier on Wednesday, and said it saw no let up in competition.

The fall in sales at Sainsbury's was the first since July last year, Kantar said.

"This marks the first time that each of the big four has simultaneously witnessed a drop in sales since April 2015," Kantar's Fraser McKevitt said.

© Reuters. A company logo is pictured outside an ASDA supermarket near Manchester northern England.

Lidl remained Britain's fastest growing supermarket with sales up 15.4 percent, while sales at bigger rival Aldi rose 12.5 percent.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.