Tesco’s been getting a lot of flak for its performance lately. But turns out, it’s not the worst-performing grocer of the “big four” supermarkets.
Asda has just reported a 3.9% fall in sales in the 15 weeks to 19 April – this is its worst quarterly performance since 2006.
Over similar periods, Morrisons saw a 2.9% drop while Sainsbury’s saw a 1.9% fall. Tesco reported a drop of 1% in slaes in the three months to 28 February.
Andy Clarke, chief executive, Asda, said: “I can’t remember a time when our industry has seen such a dramatic change in market structure.
“It’s clear the big grocers are losing market share and the discounters are continuing to grow.”
Clarke added: “Whilst I take no pride in reporting a negative number, we are in a period of expected turbulence, not distress.
“Fundamentally, Asda remains a balanced, healthy sustainable business.”
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