Asda sales drop as Walmart blames Brexit effect
Asda has posted a slight drop in like-for-like sales, which it has blamed on the ongoing political concerns over Brexit and consumer confidence.
The supermarket giant reported a 0.5% downturn in like-for-like sales, excluding petrol, for the period from July 1 to September 30, 219.
Chief executive of parent company Walmart, Doug McMillon, blamed the decline in like-for-like sales on Brexit, which he said continues to ânegatively affect customer spending patternsâ.
He pointed out that sales declined by 50 basis points during the quarter âbut improved sequentially compared with the Easter-adjusted comparison from the second quarterâ.
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