Walmart sees worst drop since 1988

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In the UK, Asda reported a 0.5% in like-for-like sales – its third consecutive quarter of growth sales. Although Asda lost its place as the UK’s second largest supermarket in late 2015 and is facing fierce competition from German discounters, Roger Burnley, Asda CEO and President, reported that the chain is “absolutely focussed” on doing the right things for consumers to accelerate momentum and build trust. Be that through an increased focus on Every Day Low Prices with the launch of Rolled Back and Staying Back, continued innovation in our own brands, the way we make it easier for customers to shop with us, or the way we support our communities.

Bryan Roberts, retail analyst at TCC Global, said the company "played a good game over Christmas", adding: "We've seen a marked improvement in service levels and sharper all-round availability."