November 14, 2019 / 12:17 PM / 25 days ago

Britain's Asda blames Brexit uncertainty for lower sales

LONDON, Nov 14 (Reuters) - Asda, the British supermarket arm of U.S. retail giant Walmart, reported a fall in underlying sales in its latest quarter, saying uncertainty surrounding the UK’s exit from the European Union had negatively affected spending patterns.

The group, whose attempt to be taken over by rival Sainsbury’s for 7.3 billion pounds ($9.3 billion) was blocked by Britain’s regulator in April, said on Thursday comparable sales fell 0.5% in its fiscal third quarter, versus a second quarter rise of 0.5%.

Asda also said its gross profit rate and operating income both decreased in the quarter. (Reporting by James Davey)

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