Asda only Big Four supermarket to suffer fall in sales [Yahoo! Finance]
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Source: Yahoo! Finance
Shoppers spent £4.5bn at Asda in the 12 weeks to April 14, according to new figures from Kantar, representing a drop of 0.4pc. The supermarket's market share dipped from 14pc to 13.4pc over the period. The fall comes as Asda battles under the weight of billions of pounds of debt accumulated through its 2021 takeover by the Blackburn-born Issa brothers. Asda had net debts of £3.8bn at the end of last year and was forced to pay £400m in finance costs. It plans to raise £2.6bn to refinance part of its debts, with marketing documents for a €1.05bn term loan currently being circulated. MPs have questioned whether the debt burden has prevented Asda from providing the best prices to customers, a suggestion co-owner Mohsin Issa has denied. The supermarket began price matching products with Aldi and Lidl in January in an effort to win back customers. Finance chief Michael Gleeson this week said the policy would “make sure we are competitive again”. However, the Kantar figures sugg
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