Asda follows the pack for supermarket sales over Christmas

Debt-laden Asda was the worst performing supermarket chain over Christmas.

The private equity-controlled group suffered a 5.8 percent drop in sales in the 12 weeks to December 29, driving its market share down from 13.5 percent to 12.5 percent, data from market research group Kantar showed.

Asda said it had seen improvements in its sales and market share in the four weeks to December 29 compared with the same period in 2023.

The Leeds-based grocer has struggled to slow sales since it was bought by private equity firm TDR and the billionaire Issa brothers in 2021 in a highly leveraged £6.8bn takeover deal.

Asda’s large debt pile has also prevented it from keeping up with lower-priced competitors such as