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Asda sales fall for third straight quarter

Reuters - UK Focus

LONDON, May 19 (Reuters) - Supermarket Asda, the British arm of U.S. retailer Wal-Mart, on Tuesday reported a third straight fall in quarterly underlying sales, hurt by an industry price war and record food deflation.

Asda, which trails UK market leader Tesco (Xetra: 852647 - news) by annual revenue, said sales at stores open over a year fell 3.9 percent on a year ago in the 15 weeks to April 19, its fiscal first quarter.

That compares to a fall of 2.6 percent in its previous quarter. (Reporting by James Davey; Editing by Neil Maidment)