Asda warns on profit as it invests in turnaround

Asda warns on profit as it invests in turnaround

Struggling British supermarket Asda has warned that required investment in lowering prices and improving product availability and ranges will "materially reduce" profit this year.

Supermarket's pledge to cut prices 'will eat into profits'

Returning boss Allan Leighton said it would not be a 'quick fix' to get the supermarket chain back on a stronger footing.

Asda revenue slips to £21.7bn as it warns on 2025 profit – Northern Financial Review

Leeds-based supermarket group Asda said its total revenue fell 0.8% to £21.7 billion in 2024 while like-for-like sales (excluding fuel) were lower by 3.4%. Asda executive chairman Allan Leighton said the group will undertake “a substantive and well backed programme of investment in price, availability and the shopping experience” which will “materially reduce our profitability this year.” Asda said it grew adjusted 2024 EBITDA after rent by 5.8%…

Asda to slash over 6,000 SKUs to boost volume

Asda is set to drastically reduce its range in the coming year, as it looks to axe around 6,000 SKUs to boost its suppliers’ volumes. Addressing journalists in a post-trading…

Asda warns on profits as it ramps up turnaround efforts

Asda has warned that its profits for the upcoming year will take a hit as it ramps up spending on its turnaround efforts. Chair Allan Leighton said the supermarket chain will be undertaking a “substantive and well backed programme of investment in price, availability and the shopping experience” in the year ahead. He cautioned the spend will “materially reduce our profit in this year as we start to rebuild and reset the business”. “I look at thi…