Asda sales drop continues to lessen in fourth quarter

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Supermarket giant Asda has finished its year by reporting another drop in quarterly sales.

However, this was not as sharp a fall as in previous quarters.

Sales excluding fuel at stores open for more than a year fell 2.9% in the fourth quarter.

That was better than the 5.8% slide in the third quarter, and a significant improvement on the 7.5% slide reported by the supermarket for the three months to June.

Asda, which is owned by Walmart, the US retail giant, has battled to retain its place in a fiercely competitive market with more store openings from German discounters Lidl and Aldi.

Walmart chief executive Doug McMillon said: "In the UK, we faced some challenges this past year and we're addressing this with urgency.

"I'm glad store sales improved during the fourth quarter, but we have a lot of work to do."

BBC

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