Asda has said that it has seen its first fall in three years as it posted a 0.1% fall in comparable sales in the fourth quarter (Q4) in 2013.
The Walmart owned chain is the third of the UK’s “big four” supermarkets which have all seen sales fall over the Christmas period, with J Sainsbury being the only supermarket to report a rise.
ASDA chief executive Andy Clarke admitted it had been a “tough year”.
“The decisions we’re taking now will ensure the long-term growth and health of our business and do the right things for our customers.”
Walmart also revealed a sales decline yesterday as the retailer said its like-for-like sales also fell 0.4% in the quarter.
In 2014 the supermarket will invest £750m in opening new stores, store extensions and refurbishments.
At the end of last year, Asda set out its six strategic priorities to redefine value retailing in the UK over the next five years. The strategy centres on improving the core business, extending Asda’s reach and expanding the brand into new markets.
The retailer will achieve this by investing £1bn in lowering prices and £250m in physically developing stores and rolling out over 1000 Click and Collect locations.
