date:May 16, 2014
arket and would spend 1 billion pounds ($1.7 billion) on lowering prices over the next five years.
Our strategy is working, we are certainly performing ahead of Morrisons, Tesco and Sainsbury's and the losses that we were seeing to the discount market are very clearly mitigated, Asda Chief Executive Andy Clarke told reporters on Thursday.
Asda, whose everyday low-price deals include a loaf of Warburtons bread for 1 pound, said sales at stores open more than a year, excluding fuel, rose 0.1 per