Asda has reported a 1% increase in like-for-like sales for the three months to the end of December, its seventh consecutive quarter of growth in this area.
However, growth was slower when compared with the 2% increase the ‘Big Four’ grocer experience in the three months prior.
Commenting on Asda’s performance, president and CEO, Roger Burnley described 2018 as “another challenging year” and added it was “clear” retailers need to be prepared to innovate and challenge the status quo “to remain relevant”.
He said: “I’m pleased that our Asda strategy has continued to deliver positive momentum and the right offer for our customers. During the fourth quarter our own brand continued to grow ahead of the market with even more customers enjoying innovative products within our extra special range.
“I’m immensely proud of our colleagues for their hard work in 2018 to keep the business moving in the right direction and I’m delighted that once again we will be able to reward their hard work by paying all of our colleagues a bonus in spite of the challenging market we face.”
He added: “The year ahead looks no less turbulent than the last, with uncertainties around Brexit playing on our customers’ minds. Whilst I am pleased with our performance in 2018 we must remain focussed on ensuring the long term sustainable success of Asda for our customers.”
The news comes as The Competitions and Market Authority (CMA) said it has provisionally found “extensive competition concerns” as part of its in-depth investigation of the proposed merger between Sainsbury’s and Asda today (20 February).