Sainsburys

Asda Raises £155m To Help Pay Down Debt

Struggling British supermarket group Asda has raised an additional loan of £155 million to help it pay back debt due in the next two years.

Stuart Rose, executive chairman of British retailer Asda, has stepped down from his role and will be replaced by veteran Allan Leighton.

British supermarket prices offered through loyalty schemes offer genuine savings, the competition regulator said on Wednesday.

Lidl GB will accelerate new store openings in the coming years after it slowed to 15 openings in the 2023/24 financial year.

UK total till sales slowed to 4.0% growth in the four weeks to 2 November ahead of big spending events such as Christmas, NIQ reported.

UK shoppers face renewed pressure on their budgets in October as inflation edged higher for the second month in a row, according to Kantar.

British supermarket group Sainsbury’s stuck to its full-year forecast of up to 10% profit growth after a 3.7% rise in the first half.

Sainsbury’s has extended its Aldi price-matching scheme to its convenience stores, upping the ante on competitive pricing ahead of Christmas.

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