Retail Week looks ahead to next week with a fourth-quarter trading update from big four grocery giant Asda on the agenda.
Asda
The supermarket giant unveils its fourth-quarter results on Thursday.
Last month the grocer revealed plans to axe hundreds of head office roles and launched a consultation into 5,000 in-store jobs as it seeks to cut costs in the face of challenging market conditions.
Asda is confronting competition from the discounters and the green shoots of recovery at rivals Tesco and Morrisons.
Boss Andy Clarke insisted the embattled retailer had reached its “nadir” after reporting a 4.7% slump in second-quarter like-for-like sales.
Asda’s fortunes improved marginally in its third quarter, but it still posted a like-for-like drop of 4.5%.
Against that backdrop, Clarke will be keen to show that his Project Renewal turnaround strategy is bearing fruit.
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