Category: Asda
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Asda faces staff backlash after scrapping 10,000 manager bonuses
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Asda confirmed that more than 10,000 of its managers will not receive their annual rewards this year, following a disturbing segment of performance in the supermarket once. The payment of payment comes amid the worst Christmas sales in ASDA in a decade, and a market sliding from 13.7 percent to…
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Asda faces financial challenges as £900m Walmart repayment looms
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Concerns are growing about Asda’s financial stability, with the UK supermarket giant facing a £900m repayment to its former owner, Walmart, by 2028. The repayment, which includes £500m for the remaining stake in Walmart and £400m in interest, has prompted credit rating agency Fitch to warn of a possible overhaul…
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Allan Leighton returns to Asda as chair, succeeding Stuart Rose
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Asda has appointed former chief executive Alan Layton as its new boss, replacing Lord Stuart Rose amid ongoing challenges including an IT overhaul and falling sales. Leighton, who led Asda from 1996 to 2000, is set to take the helm of the UK’s third-largest supermarket chain during a critical period…
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Allan Leighton returns to Asda as chair, succeeding Stuart Rose
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Asda has appointed former chief executive Alan Layton as its new boss, replacing Lord Stuart Rose amid ongoing challenges including an IT overhaul and falling sales. Leighton, who led Asda from 1996 to 2000, is set to take the helm of the UK’s third-largest supermarket chain during a critical period…
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Asda cuts jobs and mandates office attendance amid turnaround efforts
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Asda is mandating head office staff to work on site at least three days a week, while also announcing job cuts to streamline operations and stabilize its market position. The changes, sent in an internal email by interim chief executive Lord Rose, affect more than 5,000 employees in Leeds and…
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Former Asda boss Mohsin Issa invests £10m in sports supplement firm ahead of London IPO
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Billionaire retail tycoon Mohsin Issa, the former chief executive and co-owner of Asda, has made his first major investment since stepping down from the supermarket giant, investing £10m in Liverpool-based sports supplements company Applied Nutrition. The company is preparing to offer its shares for public subscription on the London Stock…
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Asda co-owner Mohsin Issa steps back as Lord Rose takes temporary charge
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Asda co-owner Mohsen Issa is stepping down from his role in the day-to-day running of the UK’s third-largest supermarket, despite the fact that a permanent chief executive has yet to be appointed. The move allows Issa to focus on his role as CEO of EG Group, which operates petrol stations…
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Aldi poised to overtake ASDA as UK’s third largest grocer within five years
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ASDA is set to lose its place as the UK’s third-largest grocery chain, with Aldi set to overtake it by 2028, according to analysis by GlobalData, a leading data and analytics company. The forecast comes as Asda faces a range of challenges, including leadership turmoil, labour disputes and shrinking market…