Brexit has caused Supermarket sales to drop….
ASDA boss, Doug McMillon, said Brexit fears “continue to negatively affect customer spending patterns” for the chain.
Asda chief executive and president Roger Burnley added that customers have had “little respite” from political and economic uncertainty in recent months, which has influenced spending.
ASDA, the US owned supermarket, with 631 UK stores, reported a 0.5 percent decline in like-for-like sales from July to September 2019.
LIDL, the German owned supermarket, with over 760 UK stores, saw sales increase by 8.8 percent in the same period.
Is the ASDA boss correct; has Brexit caused the drop in sales, or was it competition from LIDL that has caused LIDL to take customers from ASDA and other supermarkets?
Simplified figures:
LIDL sales up 8.8%
ASDA sales down 0.5%
Or has Brexit caused an INCREASE in total combined sales?
Note: Asda was bought by the the US retailing giant Walmart in 1999.
Source Story:
Asda supermarket chiefs blast Brexit for sales slump
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