Asda's underlying sales fall again in Q4
Supermarket chain Asda has reported a fall in underlying comparable-store sales in the fourth quarter, albeit an improvement on the preceding three-month period.
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Asda, the UK division of US-based Walmart, said comp sales excluding fuel fell 2.9% in the period, which was an improvement on the 5.8% tumble seen in the third quarter.
"In the UK, we faced some challenges this past year and we’re addressing this with urgency," said Walmart President and CEO Doug McMillon.
"I'm glad comp-store sales improved during the fourth quarter, but we have a lot of work to do," he added in a statement.
UK supermarkets are mired in a price war, which was kicked-off by German duo Aldi and Lidl and has seen multiple plyers -- among them Tesco, Sainsbury's, Asda and Morrisons - come under pressure.
Meantime, Asda President and CEO Sean Clarke said he was encouraged by the early signs of the grocer's customers responding positively to the hard work that had been happening throughout 2016.
It welcomed more than 140,000 customers back to Asda in the fourth quarter.
"While we have a lot to do, it is great to see our colleagues, who really make the difference, engaged in this change in doing what’s right for customers," said Clarke.