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Sharp drop in Asda sales piles pressure on owners
The Guardian
|August 22, 2024
The owners of Asda are facing mounting pressure after figures showed the struggling supermarket chain's share of the grocery market reached a "new nadir" as sales fell sharply this summer.
The grocer's sales fell 6.4% in the three months to 10 August, equivalent to more than £2bn in annual lost revenues, as it became the only member of the traditional "big four" supermarkets whose sales shrank, according to analysts at NIQ.
The third-largest UK supermarket chain lost 1.3 percentage points of market share, diving to just 11.8%, putting it just a sliver above Aldi in fourth place.
This story is from the August 22, 2024 edition of The Guardian.
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