Asda has suffered a 6% decline in sales in the 12 weeks ending August 4, just days after the chairman called on the owner to step back from day-to-day operations.
The grocer's market share also dropped to 12.6% (from 13.7%), according to new data from Kantar.
The group's chairman, Lord Rose of Monewden, said this week that he is "slightly embarrassed" by the company's performance.
Speaking to The Telegraph, he said: "I’ve been in this industry for a long time and I am slightly embarrassed. I won’t deny that. I don’t like being second, third or fourth.
"And if you look honestly now at the comparative numbers of Kantar or whatever index, we are not performing as well as should be. I don’t like that."
TDR Captail, a private equity firm, owns 67.5% of Asda, while businessman Mohsin Issa owns 22.5%.
Lord Rose called on Mr Issa to step back from the day-to-day running of the business.
“We always said Mohsin was a particular horse for a particular course," said Lord Rose.
"He is a disrupter, an entrepreneur, he is an agitator. We’ve added a significant number of stores and we’ve changed a lot, but it now needs a different animal.”
FTSE 100
The UK's flagship share index, the FTSE 100, was up 42-points at 8,278 shortly after opening this morning.
Brent crude oil futures were up 0.56%, trading at $81.14 a barrel.
Companies reporting today
14-Aug | |
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Aviva* | Half Year Results |
Balfour Beatty | Half Year Results |
TUI* | Q3 Results |