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Reuters reports that Walmart is "throwing its weight as the world's largest retailer behind its struggling British arm Asda after admitting it was too slow to respond effectively to the threat posed by the discount supermarkets."

The story says that Walmart "will provide further firepower by ensuring Asda leverages the parent's purchasing strength in everything from refrigerators to own-brand products and real estate to drive down prices and costs, said Scott Price, chief administrative officer of Walmart International."
KC's View:
The story makes a point that every retailer ought to learn from - that Asda has suffered over the years because it focused on efficiency and not effectiveness, and "maximizing short-term profit at the expense of investing to protect market share." That is a mistake that a lot of retailers make, preferring to put out fires and worry about tomorrow's numbers rather than longer-term issues of relevance and business sustainability.