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Asda plans to lower prices and improve stores to regain market share, accepting short-term profit cuts.
Asda, the UK's third-largest supermarket, plans to invest in lowering prices and improving stores to regain market share from rivals like Aldi, admitting this will reduce profits in the short term.
The company, led by returning boss Allan Leighton, has reported a 3.4% drop in like-for-like sales and a 0.8% decrease in revenue to £21.7bn.
Despite these challenges, Asda's market share has slightly increased by 0.3% since December.
The investment aims to move the entire product range to a new low "Asda Price" and is seen as crucial for long-term growth.
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Asda planea bajar los precios y mejorar las tiendas para recuperar su cuota de mercado, aceptando recortes de beneficios a corto plazo.