date:Nov 18, 2013
Asda, the U.K. supermarket chain owned by Wal-Mart Stores Inc. will invest 1.25 billion over the next five years to help stave off discounters and upscale grocers.
The retailer will spend 1 billion through 2018 on closing the price gap to budget stores such as Aldi and Lidl, while keeping the pressure on main competitors Tesco, Sainsbury's and Morrison's, CEO Andy Clarke told reporters in London today.
Asda will also invest 250 million on improving the quality, style and design of its products