When Andy Bond, chief executive officer of U.K.-based Asda, delivered the 2007 results to the media late last year, he described it as a “vintage year” with the company achieving all its targets in terms of sales and profitability. “We've grown faster than all our competitors on total sales and like-for-like sales … with 2 million new customers added since 2006. We're in very good health with a strong base for future growth,” he stated. The numbers showed Asda had delivered like-for-like ...

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