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Andy Clarke, President & CEO Andy Bond, Chairman Asda became a subsidiary of the American retail giant Wal-Mart, the world’s largest retailer,[2] in 1999,[3] and is the second largest chain in the UK after Tesco,[4] having overtaken Sainsbury's in 2003. In May 2010, it was announced that Asda would buy all of Netto's UK Operations for a £778&_160;million deal. Asda's marketing promotions have usually been based solely on price, with Asda promoting itself under the slogan Britain's Lowest Priced Supermarket, 12 Years Running. As a wholly owned division of Wal-Mart, Asda is not required to declare quarterly or half-yearly earnings. It submits full accounts to Companies House each October.
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