FILE PHOTO: Shopping trollies outside an ASDA supermarket near Manchester northern England, April 7, 2016. REUTERS/Phil Noble/File Photo

LONDON (Reuters) – Asda, the British supermarket arm of Walmart that has agreed to be acquired by rival Sainsbury’s, reported a slowdown in the rate of underlying sales growth in its fourth quarter.

Britain’s third largest food retailer after market leader Tesco and No. 2 Sainsbury’s said its like-for-like sales rose 1 percent in its fiscal fourth quarter,

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