A deep-dive into Walmart’s sale of Asda considers its merits:
“He noted that, while the Covid-19 pandemic helped to boost the division’s sales—as pantry stocking has helped supermarkets across the board—Asda has been losing market share in the U.K. in recent years, making it a less attractive asset for Walmart to own. The fact that the company will retain a minority stake in the grocer means it will still have some exposure to the U.K. market, while the sale gives it cash to use for higher-growth initiatives.”
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