Fri, 14 Mar 2025

Fri, 14 Mar 2025 No quick fix to stronger sales, says Asda boss

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

* Asda's sales excluding fuel fell almost 1% to £21.7bn last year, while profits were up 6% on 2023 to £1.1bn.
* Executive chairman Allan Leighton said there is no "quick fix" to boost sales and that prices will be made 5-10% cheaper than rivals going forward.
* Asda aims to invest in lowering prices, improving product availability, and putting more staff on the shop floor to regain customers' trust.
* The company's profits are expected to be lower this year due to investment plans, but Leighton said it was "not a profit warning" but an "investment warning".
* Asda has launched major price cuts through its "Rollback" promotion, which was reintroduced in January.
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