The bosses of Asda have warned of the 'stark challenges' facing families as shoppers are, on average, £40 a week worse off as the cost of living crisis continues to rumble on. Speaking to a trade magazine, the billionaire Issa brothers said the giant recorded a 9% drop in sales in the first quarter of the year.
They told The Grocer the impact was likely down to coronavirus, which prompted an exceptional quarter one of the last financial year. The UK's third national lockdown saw a boom in supermarket sales.
Zuber and Mohsin Issa's retailer saw like-for-like food sales drop by 7% in 2022. Asda says this is because more people are eating out now the Covid restrictions have been lifted.
