Asda has experienced a significant financial downturn, with latest full-year accounts revealing losses approaching £1bn. The Leeds-based retailer has been impacted by a combination of aggressive price cuts and internal operational challenges.
According to The Grocer, the company suffered heavily during the final phase of Project Future. This initiative was designed to decouple the supermarket's IT systems from those of Walmart, but the process proved disastrous for the business.
