ASDA sales continue to fall in 2015

Major UK supermarket chains are continuing to struggle to compete with discounted stores as ASDA reports a third straight significant drop in quarterly underlying sales.

The Leeds-based supermarket group, which is also suffering with record food deflation, revealed on Tuesday that sales at stores open more than a year fell 3.9%, compared to 1% for the same period last year.

ASDA, which is also behind Tesco in terms of annual revenue, experienced a 2.6% dip in the previous quarter, thus affirming that the supermarket chain’s drop in sales is accelerating, Reutersreports.

These alarming financial statistics were announced only a week afterAsda launched a schemecalled ‘Project Spark,’ which consists of a complete review of all its external legal advisers.

The main purpose of the review is to deal with significant changes that are sweeping the retail services sector by reevaluating pricing structures and firms’ offering.

Furthermore, on Tuesday Wal-mart, which owns Asda, also missed first quarter U.S. sales forecasts.

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