STRUGGLING supermarket Asda has laid bare the challenge awaiting new boss Sean Clarke after reporting its worst quarterly performance on record.
The chain - owned by US giant Walmart - posted a 7.5 per cent fall in like-for-like sales in the second quarter.
The results represent the eighth consecutive quarter of sliding sales and a worsening of the 5.7 per cent drop seen in the previous period.
Mr Clarke, who took up the reins on July 11, is attempting to turn Asda around through a £1.5 billion investment in price cuts amid a brutal price war in the supermarket sector.
Dubbed Project Renewal, the plan to revive Asda's fortunes involves reduced prices, job cuts and improved ranges.
Walmart boss Doug McMillon said: "In the UK the competitive environment and food deflation continued to challenge the market, significantly impacting traffic and comp(arable) sales.
"Our strategy to turn things around is focused on improving the retail basics. We are simplifying and strengthening our offering through improved availability and assortment discipline, reducing costs and driving sales through strategic price investments."
In January, Asda said it would axe hundreds of UK jobs, largely affecting its Leeds head office, which employs 3,000 people.
