This article is from the source 'independent' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.independent.co.uk/news/business/news/asda-loses-share-to-key-rivals-in-price-war-10262294.html

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
Asda loses share to key rivals in price war Asda loses share to key rivals in price war
(about 6 hours later)
The resurgence of Tesco and Morrisons has hit Asda amid a period of “turbulence” in the supermarket sector, its chief executive has admitted.The resurgence of Tesco and Morrisons has hit Asda amid a period of “turbulence” in the supermarket sector, its chief executive has admitted.
The Walmart-owned chain reported a 3.9 per cent fall in first-quarter like-for-like sales. Andy Clarke said: “We could not have foreseen what’s happened to others and the moves they have had to make to restore their business.” The Walmart-owned chain reported a 3.9 per cent fall in first-quarter like-for-like sales.
Andy Clarke said: “We could not have foreseen what’s happened to others and the moves they have had to make to restore their business.”
The impact of the supermarket price wars, triggered by Aldi and Lidl, was laid bare as the UK entered deflation for the first time since 1960. Mr Clarke said Asda is shunning promotions to invest long-term in low prices.The impact of the supermarket price wars, triggered by Aldi and Lidl, was laid bare as the UK entered deflation for the first time since 1960. Mr Clarke said Asda is shunning promotions to invest long-term in low prices.
Clive Black, an analyst at Shore Capital, expressed “surprise” at Asda’s sales slump.  He said Tesco was probably winning shoppers back from all of its rivals,  while Morrisons was regaining popularity in the North of England and the Midlands.Clive Black, an analyst at Shore Capital, expressed “surprise” at Asda’s sales slump.  He said Tesco was probably winning shoppers back from all of its rivals,  while Morrisons was regaining popularity in the North of England and the Midlands.