Asda's first-quarter sales boosted by coronavirus stocking-up
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LONDON (Reuters) - Asda, the British supermarket arm of the world's biggest retailer Walmart , said on Tuesday its first-quarter comparable sales rose 3.5%, boosted by consumers stocking-up on food in response to the coronavirus crisis.It said higher growth in food was partially offset by weaker demand for apparel.Asda also said it gross profit rate declined, primarily as a result of a change in mix towards lower margin categories in response to COVID-19. It also had incremental costs related to..