Profits slip at Asda as shoppers hit by cost-of-living crisis
Mohsin Issa, co-owner of Asda, said the retailer delivered a ‘highly resilient’ performance during the year.
Mohsin Issa, co-owner of Asda, said the retailer delivered a ‘highly resilient’ performance during the year.
The Competition and Markets Authority said it ‘might’ accept Asda’s proposals to offload 13 sites.
It remains unclear whether North Korea has developed nuclear bombs small enough to fit on its long-range rockets.
The Competitions and Market Authority opened an investigation into the acquisition of 132 Co-op petrol stations and adjoining shops in January.
The retailer also said it will cut hours at in-store Post Office shops and close seven pharmacies.
Bosses said the plan will see the company open 300 Asda Express shops by 2026.
The deal will see 2,300 workers move over from the Co-op to the supermarket group.
The supermarket giant said it will open the first two stores under the brand in Sutton Coldfield and Tottenham Hale in London.
Co-op’s newly-appointed chief executive Shirine Khoury-Haq told PA there are no plans to sell any more of the group’s assets.
Co-op Group – which owns supermarket chains and funeral care operations – has offloaded a number of its divisions over the past decade.
The retailer said it has benefited from strong sales of its new Just Essentials range.
Clayton, Dubilier & Rice won a lengthy auction to buy the Bradford-based supermarket last year in a deal worth around £7bn.
It comes after Boots’ current owner, Walgreen Boots Alliance, announced a review of the UK business.
Asda said the new Just Essentials budget range will comprise 300 products, a 50% increase on the current Smart Price range.
Former Tesco director and current Nisa chief Ken Towle will become retail director at Asda.