Asda reports losses that widen to nearly £1 billion for the period covered by its latest accounts, as the UK supermarket chain cuts prices in an effort to attract customers away from discounters Aldi and Lidl. Multiple outlets describe the results as the latest sign of pressure on profitability while Asda pursues a strategy focused on heavy price competition. Sky News says the loss reflects the impact of price cuts designed to win back shoppers, along with one-off costs. The Financial Times and Reuters frame the move as part of a drive to improve performance and fend off Aldi, while other outlets similarly highlight the scale of the loss and the extent of price cutting. In addition to the loss figures, Asda reports a decline in like-for-like sales, with The Independent and the London Evening Standard citing a fall of 3.1% year on year excluding fuel. Across reports, Asda’s trading results are presented as the combined outcome of lower sales volumes or reduced revenue from price reductions and associated costs, rather than a single factor.
Asda reports near-£1bn loss after major price cuts to win back shoppers
Asda reports losses that widen to nearly £1 billion for the period covered by its latest accounts, as the UK supermarket chain cuts prices in an effort to attract customers away from discounters Aldi...
- Asda reports losses that are close to £1 billion in its latest accounts.
- The loss is linked to major price cuts aimed at winning back shoppers from Aldi and Lidl.
- Sky News reports the results also include one-off costs in addition to the effects of price reductions.
- Reuters and the Financial Times describe the loss as widening during Asda’s price-cutting drive.
- Asda’s like-for-like sales fall by 3.1% year on year excluding fuel, according to The Independent and London Evening Standard.
Major UK supermarket reveals near £1BILLION loss after slashing prices to win back shoppers GB NewsAsda losses widen to nearly £1bn Financial TimesUK supermarket Asda slumps to near £1 billion annual loss ReutersAsda losses grow to almost £1bn as it fends off Aldi Sky NewsAsda’s losses spiral to nearly £1bn The Telegraph
3 months agoAsda also reported that like-for-like sales slipped 3.1% lower year-on-year, excluding fuel.
3 months agoAsda also reported that like-for-like sales slipped 3.1% lower year-on-year, excluding fuel.
3 months agoAsda sank deeper into the red last year as it slashed prices to win back shoppers from discounters Aldi and Lidl.
3 months agoTDR-backed UK supermarket chain had slashed prices to try to win back customers
3 months agoAsda losses widen to nearly £1bn Financial TimesAsda’s losses spiral to nearly £1bn The TelegraphAsda losses grow to almost £1bn as it fends off Aldi Sky NewsUK supermarket Asda slumps to near £1 billion annual loss ReutersAsda sinks to near £1bn loss after price-cutting drive The Times
3 months agoUK supermarket Asda slumps to near £1 billion annual loss ReutersAsda losses grow to almost £1bn as it fends off Aldi Sky NewsAsda losses widen to nearly £1bn Financial TimesAsda sinks to near £1bn loss after price-cutting drive The TimesAsda’s losses spiral to nearly £1bn The Telegraph
3 months agoAsda slumped deeper into the red last year, according to accounts showing hits from price cuts to lure back shoppers and one-off costs.
3 months ago
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