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Asda warns of material profit hit

Reuters on MSN · 18h

Britain's Asda warns on profit as it invests in turnaround

Struggling British supermarket Asda has warned that required investment in lowering prices and improving product availability and ranges will "materially reduce" profit this year, sending shares in rivals tumbling on fears of a step up in competition.

BBC on MSN · 18h

Asda says spending to cut prices will hit profits

Asda plans to spend more on reducing prices and improving product ranges for customers, but says its profits will suffer.

The Financial Times · 21h

Asda warns of material profit hit after ‘disappointing’ annual sales

Struggling UK supermarket Asda has warned of a material hit to profits this year as its new boss vowed to reinvest in the chain to attract shoppers back to its stores. Allan Leighton, who rejoined the business as executive chair in November,

Personnel Today11d

Asda execs to go without annual bonus, reports suggest

More than 10,000 managers at supermarket chain Asda will not receive a bonus this year after its market share has shrunk.

11d

Asda sales plunge again as shoppers desert ailing supermarket

Shoppers deserted Asda in February, delivering a further blow to the ailing supermarket as it scrambles to reverse its ...

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