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Asda posts sales slowdown Thursday, 16th August 2012
Asda has posted a slowdown in second-quarter like-for-likes as consumers continue to tighten their purse strings.
The supermarket reported that sales at stores open for a year or more were up 0.7 per cent in the 13 weeks to 30 June, its fiscal second quarter.
Sales were up 2.2 per cent for the first quarter.
However, data has shown that the supermarket is growing in sales to a greater extent than all of its UK rivals over the last quarter.
Rival Tesco has beefed up promotional activity in recent weeks after issuing a shock profit warning in January – a sure sign that no business is immune from economic gloom.