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Asda sees sales boost from lockdown but owner cautions that benefits do not necessarily mean an increase in profits

Asda, owned by global retail giant Walmart, reported a 3.5% sales increase in the first quarter of 2020 vs 2019 (excluding fuel), although Walmart notes that this may not translate into higher profits mainly due to “a change in mix towards lower-margin categories in response to Covid-19”.  Asda also saw reduced demand for its clothing range.

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