Asda was formed in 1965 and has established itself as one of the UK’s biggest supermarket players. The grocer is renowned for its focus on everyday low prices and an extensive product assortment, operating mainly from large out-of-town supermarkets and hypermarkets across the UK. Retail Week provides news, analysis, features and opinion about Asda and the grocery sector.
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Even as sales continue to slip, Asda’s credit rating is downturned and its private equity owners turn to sale and leasebacks of stores, executive chair Allan Leighton insists his turnaround strategy is working
Asda has vowed to double down on its ‘Formula for Growth’ strategy, even as its total revenues and like-for-like sales dropped in the third quarter.
The grocer has today [November 20] announced it has reached a £568m sale and leaseback agreement with two separate investment firms.
Retailers affected by the Cloudflare outage are now reported to be back up and running following payment and checkout issues.
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