Asda loses ground on rivals as turnaround efforts stall

Asda’s turnaround efforts have stalled after the discount supermarket was the UK’s only major grocer where sales fell last month. The supermarket chain posted £4bn in total takings in the 12 weeks to 1 November, 0.5 per cent lower than the same time a year ago, according to Worldpanel. The company’s share of the grocery market slimmed from 11.6 to 11.3 per cent in the same period. Customer demand grew at each of Asda’s competitors, including a 6.6 per cent increase at Lidl and a two per cent jump at Morrisons. Apart from Iceland, which saw flat returns, all other supermarket chains increased their sales year-on-year. Asda’s declining sales threaten to derail its turnaround efforts, just months after boss Allan Leighton declared it was in the “foothills of recovery” . The grocer’s posted a 0.2 per cent uplift in like-for-like revenue excluding fuel in the seven weeks to mid-August, marking the company’s first positive sales figures in more than two years.  Asda, which is