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Asda to invest another £500m in price cutting

Asda is to invest a further £500m in cutting prices across the supermarket, including its clothing arm, George, as sales decline.

Child’s play: it is hoped the new standard will simplify sizing and make it more consistent

George at Asda kidswear

The retailer is expected to report a sixth consecutive quarter of falling revenue with sales slipping 3.5%, according to The Telegraph.

The investment comes after £1bn of price cuts planned from 2013 to 2018. Chief executive Andy Clarke said £600m had already been spent cutting prices.

In February Asda reportedly asked suppliers for discounts so the supermarket could cut prices by up to 10% following a tough Christmas.

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