Walmart Is Losing the U.K. Supermarket War
Walmart continues to lose ground in the U.K. as low-cost competitors gain steam.
Walmart (WMT) - Get Report continued to lose ground in the U.K. as low-cost competitors gained steam, according to data from Kantar Worldpanel released on Tuesday.
Sales at Walmart's U.K. unit, Asda, fell 1.9% to £4.3 billion ($5.3 billion) for the 12 weeks to Jan. 29, making it the only grocery store to experience a decline. Asda, which has 630 locations across the U.K., saw its market share drop 0.6 percentage points to 15.6%.
Asda's decline has started to slow, with Kantar Worldpanel noting the retailer managed to increase the number of shoppers visiting stores compared to the same time period last year.
