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    Asda Increases Investment in London

    LEEDS, West Yorkshire, U.K. - Wal-Mart-owned Asda on Monday unveiled a UK 114 million ($175.8 million) plan to deliver 12 new, refurbished or extended stores in the London market.

    LEEDS, West Yorkshire, U.K. - Wal-Mart-owned Asda on Monday unveiled a UK 114 million ($175.8 million) plan to deliver 12 new, refurbished or extended stores in the London market. The news came as the retailer opened its latest London store in Walthamstow town center.

    The 12-month program includes two new stores in Crawley and Sutton. In addition, London will get its first ASDA Wal-Mart Supercentre at Watford, with the UK 5 million conversion of the existing store, due to open on Nov. 4 -- Britain's ninth store to carry the Wal-Mart name alongside Asda's.

    Walthamstow is the first and, at 17,500 square feet, the smallest of the new London stores. But its size is not the only difference. The new town center store will focus solely on food. As well as the full weekly selection, it will offer a new range of hot and cold 'Food to Go' along with the widest range of ready meals aimed squarely at lunch, tea-time and late-night customers.

    "Walthamstow illustrates that we can flex formats and develop stores to meet the needs of every community. Unlike other supermarkets, prices at ASDA are the same whether you're shopping in Walton, Wakefield or Walthamstow," said Asda COO Tony DeNunzio.

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