Asda Reports Ninth Consecutive Quarter of Sales Decline

The UK supermarket chain Asda Stores Limited reported a 2.3% decline in like-for-like sales excluding fuel for the second quarter of 2026. This result marks the ninth consecutive quarter of declining comparable sales for the company, which continues to lose market share to competitors such as Tesco Plc, J Sainsbury Plc, Aldi, and Lidl.

Executive Chairman Allan Leighton described the company as being in the "foothills of recovery," pointing to a 0.2% growth in comparable sales during the first seven weeks of the current quarter as a milestone. Leighton noted that a full turnaround of the business typically takes three to five years following its 2021 leveraged buyout by TDR Capital and the Issa brothers.

While total revenue including fuel rose 0.4% to £6.5 billion, Chief Financial Officer Michael Gleeson attributed the ongoing struggles to a difficult economic environment that is weighing on household budgets.