Asda sales drop as Walmart blames Brexit effect

Asda petrol station

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 “negatively affect customer spending patterns”.

He pointed out that sales declined by 50 basis points during the quarter “but improved sequentially compared with the Easter-adjusted comparison from the second quarter”.

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