Asda slips further behind rivals as sales growth slumps [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
Sales at Asda, which is owned by the billionaire Issa brothers and private equity firm TDR Capital, were up just 0.8pc in the last 12 weeks compared to last year, according to analysis firm NIQ. The supermarket's growth was much slower than rivals Sainsbury's and Tesco, which recorded rates of 7.9pc and 6.3pc respectively over the period. Marks & Spencer also posted growth of 11.2pc. The figures show Asda lagging behind all major rivals over the period, with its market share slipping to 11.7pc compared to 12.3pc a year earlier. This allowed German discounter Lidl to move closer to Asda in terms of market share, which rose from 9.8pc to 10.2pc. The latest figures will increase pressure on the Issa brothers, who have vowed to boost sales at Asda while cutting costs. The Telegraph revealed earlier this year that Asda had slashed millions of hours for staff in a bid to reduce its wage bill, which has threatened to spark a wave of strike action. It comes as Asda struggles unde
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