The UK wing of US giant Wal-Mart, ASDA's profit is drooping as the other supermarkets Tesco, Sainsbury and Morrison, are tightening their grip in the same market.
ASDA's latest set of accounts disclose that its yearly profits fell to £571.9m for the calendar year 2005, compared with £629.8m previous the year.
ASDA is already making significant development against its rivals by adding finest quality products to it's shelves. With this move they will directly jump into competition with high-class Sainsbury and Waitrose stores. This will also help to reduce operating costs.
ASDA, which has 313 food stores in the UK – 36 of which are in Scotland – aims to have online shopping services available at 157 stores by October 2007.
marketing@alchempro.com
