Former Asda exec Judith McKenna has said it is “clearly not where it should be”, following its acquisition by private equity firm TDR Capital and the Issa brothers, and that its recent struggles have “hurt my heart”, Retail Gazette reported.
Former Walmart international boss McKenna, who led the grocer’s £6.8bn sale in 2021, told the FT Live Future of Retail conference yesterday (17 September), that one of the initial strengths the Issa brother had over other potential buyers of Asda, was “entrepreneurship” and the ability to “do something different in UK supermarket retailing.”
However she added: “Through circumstances; economy, distraction, whatever that has been. It’s clearly not where it needs to be.”
Subscribe to Grocery Gazette for free
Sign up here to get the latest grocery and food news each morning
Her comments come amid a turbulent year for the supermarket, which has struggled to arrest its slow decline in market share, among other issues such as its ongoing battle with massive debt piles.
One key challenge Asda faces includes its IT transformation from its Walmart legacy system. Over recent months, the grocer has come under fire over the transition which has seen several glitches that have impacted workers’ pay and customer orders.
McKenna said: “It is way harder to get out of systems, than it is to get into them.”
She added: “That is a good business and great colleagues. Ultimately, I wish them well, but does it hurt my heart a little? Yes, it does.”
1 Comment. Leave new
“a little” 😉