Asda Says Same-Store Sales Fell In 2014

UK retailer Asda said same-store sales fell 1 percent for 2014 and declined 2.6 percent for the quarter ending January 4, 2015. Asda president and CEO Andy Clarke said his company remains focused on its long-term business plan, which includes £600 million in investments to expand and improve its store network. Clarke and CFO Alex Russo presented the company's achievements in 2014, including its £300 million investment to lower prices, opening of 17 new stores, and opening of 200 new Click and Collect sites.