ASDA news and archive

George at Asda managing director to step down

Asda has announced that Steph Strike, the managing director of the company’s George fashion label, is leaving the business later this year to take up a new role. Strike joined Asda back in 1995 as part of the retailer’s graduate training scheme and held a number of senior roles at the company before being appointed as managing director of George...

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Asda rules out George sale, plans new partnerships

Asda has confirmed it has no plans to sell off its George clothing brand despite speculation its new owners were planning on doing so in a bid to cut costs and spending. “George has been a crucial part of the Asda family and continues to be a key part of our strategy,” Asda’s outgoing CEO and president Roger Burnley told Drapers. “George is the...

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Asda CEO to step down following takeover

Asda has announced that its CEO and president Roger Burnley is to leave the company following the British supermarket chain’s takeover in October 2020. Burnley, who joined the company in 2018, will be leaving the business next year “after the supermarket has transitioned fully to new ownership and once his long-term successor is in place”....

Business

Walmart sells Asda in 6.8 billion pound deal

British supermarket giant Asda has been sold by Walmart to two billionaire brothers and private equity firm TDR Capital in a 6.8 billion pound (8.8 billion dollar) deal. Under the new ownership structure, Mohsin and Zuber Issa and TDR Capital have acquired a majority ownership stake in the retailer, while Walmart will retain an equity investment...

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ASDA Embarks on Digital Transformation Journey for Smarter Loss Prevention

Founded in the 1960s, Asda is one of Britain’s leading retailers serving over 18 million customers every week. In 1999 Asda joined Walmart, the world’s number one retailer, sharing a commitment to improve the experience in stores and provide great value for customers. Asda uses a number of loss prevention (LP) technologies to protect different...

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Walmart International CEO on data privacy, the failed Asda merger and leveling the playing field for women

Amsterdam - With over 11,000 stores, 270 million customers a week and a turnover of half a trillion dollars, Walmart is without a doubt a powerhouse in the world’s retail landscape. Founded in 1962, the company now operates over 11,300 retail units under 58 banners in 27 countries. Judith McKenna, president and CEO at Walmart International, was...

Business

UK competition regulator refers Sainsbury Asda merger for phase 2 investigation

The Competition and Markets Authority (CMA) in the United Kingdom confirmed Wednesday that the proposed merger between J Sainsbury plc and Asda Group Ltd. is being referred for an in-depth Phase 2 investigation. CMA noted that the deal raises sufficient concerns through its Phase 1 investigation for it to be referred for a more in-depth review....

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Sainsbury's shares rise 20 percent as it inches closer to Asda merger

J Sainsbury Plc and Walmart Inc. have agreed to a proposed combination of Sainsbury's and Asda Group Limited, a wholly owned subsidiary of Walmart, to create an enlarged business. The news of merger between Sainsbury’s and Asda, according to The Guardian, led the Britain’s stock market to its highest level since the start of February. The FTSE...