Asda and CEO Andy Clarke were in focus today after another quarter of terrible sales figures. The Mail writes Clarke is under increasing pressure as series of price cuts failed to help the struggling supermarket. The Guardian points out the 5.7% slump in like-for-like sales slumped in the first three months of 2016 were only slightly better than the 5.8% decline in the fourth quarter, which was the worst in Asda’s history. The decline in Q1 was the seventh drop in a row for the supermarket. The Financial Times said the disappointing figures were released as usual in a short extract in Walmart’s earnings statement, but Asda abandoned its standard practice of announcing the results at a separate London press conference. In a separate story, The FT reports that first-quarter earnings at Asda owner Walmart beat market expectations, sending shares in the world’s largest retailer up 9% and bucking a grim trend of disappointing results across the industry this month. Despite shunning the media, Andy Clarke told The Telegraph that the supermarket was “keeping some powder dry” and “when the time is right” it would pull the trigger on a more radical strategy that would see sales recover. “It’s never great to see a number that we are sharing today but… there is no point in searching for short-term fizz,” Clarke told the paper. “We have a 50-year history and I’m comfortable with this sustainable strategy, which will position us for the long term.”

BHS administrators have lined up a trio of liquidators should talks over a sale of the failed retailer come to nothing, writes The Telegraph. Restructuring firms Alteri, Hilco and Gordon Brothers have been asked to assess how much BHS would be worth if all its assets including existing stock were sold-off piecemeal. BHS employees would have escaped automatic cuts to their retirement incomes if regulators had approved a rescue plan put forward two years ago with the backing of pension trustees and Sir Philip Green, according to The FT.

A profit rise at Britvic has sweetened the pill of the looming sugar tax, The FT writes. The drinks group highlighted “changes in consumer preferences to sugar, natural and artificial sweeteners” as a principal risk to its business, but said it was “well-placed” to deal with the rising backlash against sugary drinks. Britvic pre-tax profits rose 7.3% to £54.5m in the year to 10 April, with sales up 5% to £678m, driven by strong growth for Pepsi and sugar-free Pepsi Max in the UK. The Robinsons owner plans to change the recipes for more of its drinks in order to avoid the sugar tax, which is expected to be introduced in the UK in 2018 (The Guardian).

Frozen food supermarket Iceland has abandoned celebrities and will now attempt to win back shoppers with adverts that feature “real mums”, according to The Telegraph. The move comes months after Iceland boss Malcolm Walker was quoted as saying the supermarket’s association with former pop singer Kerry Katona had been “brand damaging”.