The chairman of supermarket giant Asda has warned that customers are buying fewer items and turning to cheaper products after witnessing a plunge in their household incomes.
Lord Stuart Rose said the group's shoppers are "making desperate decisions about spending" as the cost-of-living crisis continues to bite.
His comments came as Asda, which is owned by the billionaire Issa brothers and TDR Capital, posted a plunge in sales for the first quarter of the year.
-copy-29e15046.jpeg?w=600)
