Asda only major supermarket to post sales drop [Yahoo! Finance]
WPP plc American Depositary Shares (WPP)
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Source: Yahoo! Finance
Sales figures at Asda were down 4pc in the 12 weeks to June 9, according to new figures from industry analysis firm Kantar, with the supermarket's market share falling to 12.8pc from 13.7pc last year. This only increased the gap between Asda and its two largest rivals, Tesco and Sainsbury's, which both managed to grow sales in the last quarter. Tesco's market share rose from 27.1pc to 27.7pc over the period, while Sainsbury's portion jumped to 15.2pc from 14.9pc. It came as Kantar said cost pressures were easing for shoppers, with grocery inflation falling for the 16th consecutive month to reach 2.1pc. The figures will raise hopes that the headline rate of inflation, which will be announced on Wednesday, is approaching the Bank of England's 2pc target, down from its current level of 2.3pc. The figures will, however, serve as a setback to Asda bosses, who have been struggling to attract shoppers amid a broader cost-cutting push. The Telegraph last weekend revealed that Asd
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WPP
Sec Filings
- 6/4/24 - Form 6-K
- 6/3/24 - Form 6-K
- 5/9/24 - Form 6-K
- WPP's page on the SEC website