British supermarkets will face heavy pressure on sales this year, with stagnant demand from consumers and price competition from discount chains, the chief executive of Asda said. The Sunday Telegraph said Asda, which is owned by U.S. retailing major Wal-Mart (WMT.N), planned to spend a further 500 million pounds ($726 million) on cutting prices this year. “Short-term volatility in sales is set to continue this year,” Asda CEO Andy Clarke was quoted as saying.