Asda has suffered a drop in full-year profits as costs incurred during the coronavirus crisis weighed on its bottom line.
In documents filed at Companies House, Asda said operating profit tumbled 16.7% to £486.5m in the year to December 31, 2020.
Asda blamed the decline on a tranche of Covid-related costs, including hiring 22,000 temporary colleagues to cover staff absence, shielding 15,000 vulnerable colleagues on full pay and delivering 2.6 million online orders to shielding customers free of charge.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.