Asda Prepares £500 Million War Chest As It Readies For Battle With Low-Cost Rivals In UK

Walmart’s UK business Asda said it plans to spend £500 million more to reduce prices at its stores across the country. Part of the retailer’s efforts to compete with low-cost rivals Aldi and Lidl in a market increasingly characterized by a fierce price war, the investment follows the previous £1 billion pledged by Asda in November 2013. Among UK’s top supermarkets, Asda posted the worst sales performance in 2015.