ASDA - comment

With EG Group dominating the headlines over the weekend regarding IPO chatter later this year, Asda's headlines are more sobering.  Following a poor Christmas trading for Asda, the axe is beginning to fall.  Asda cut some regional managers last week, to reduce head-office headcount and improve performance.  These redundancies were flagged in Aengus’ note in November.

The planned IPO of EG Group will have no impact on Asda but will continue to garnish headlines over the coming months.