Asda ‘edging forward’ with turnaround despite plummeting profits
Asda executive chairman Allan Leighton insists the grocery giant is “edging forward” in its Formula for Growth turnaround plan, despite profits dropping by a third and like-for-like sales dipping.
For the year ending December 31, 2025, Asda reported a 33.1% drop in adjusted EBITDA to £764m and a 0.3% dip in like-for-like sales excluding fuel and a 3.3% fall in total sales to £21bn.
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