(MENAFN) UK based Supermarket operator Asda, has faced its worst quarterly sales performance in the 16 years it's been owned by the US's Walmart, and it's losing ground in a fierce price war sparked by lower prices at Aldi and Lidl.
Asda sales declined 4.7 percent in its fiscal second quarter, this outcome followed a drop of 3.9 percent in its first quarter, however, the current third quarter had so far shown some positive signs, reports showed.
Experts say Asda has suffered because the discounters are continuing to win market share, both through like-for-like sales growth and aggressive new store openings.
The supermarket operator has reduced prices without getting the increase to volume it was hoping for, which reflected a difficulty in attracting new customers, mainly more upmarket ones.
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