Asda reports slowdown in rate of quarterly sales growth
Share:
LONDON (Reuters) - Asda, the British supermarket arm of Walmart that has agreed to be acquired by rival Sainsbury's, reported a slowdown in the rate of underlying sales growth in its fourth quarter. The UK's third largest grocer after market leader Tesco and No. 2 Sainsbury's said its like-for-like sales rose 1 percent in its fiscal fourth quarter.That compares with a rise of 2.0 percent in the previous quarter. The update marks the seventh straight quarter of underlying growth.