Asda Faces Revenue Decline Amid Festive Trading Period, Impacting Market Share
Asda, a major UK supermarket chain, has reported a 4.3% decline in sales over the 12 weeks leading up to November 30, according to Worldpanel data. This downturn has resulted in a decrease in Asda's market share by 0.9%, bringing it down to 11.5%. In contrast, other major supermarkets such as Tesco, Sainsbury's, Morrisons, Aldi, and Lidl have experienced sales growth during the same period. Ocado, in particular, has emerged as the fastest-growing supermarket with a 15.8% increase in sales. An Asda spokesperson acknowledged the challenges but expressed confidence in the company's strategy to improve its market position by enhancing online and in-store availability and maintaining competitive pricing. The company is also reportedly considering stricter disciplinary measures regarding employee sick days as part of its turnaround strategy.