Asda is continuing to struggle to meet Wal-Mart expectations after recording flat third-quarter like-for-like sales and market share.
The UK retailer’s sales performance and profit “fell short of the plan” according to parent company Wal-Mart
Mike Duke, head of international operations at Wal-Mart, said that "the UK market continues to be very competitive and challenging".
According to the US giant, Asda’s total sales were “essentially flat”, growing by a mid-single digit percentage in the quarter to October 31. It also failed to increase market share against rivals Tesco and Sainsbury’s.
Wal-Mart meanwhile posted a strong total sales rise of 10.1 per cent for its business in the same period, up to $75.4 billion.
