Asda records best quarterly performance since Q1 2024
Asda Express continues to outperform the wider convenience market following the successful integration of all 469 sites acquired from the Co-op and EG Group, with like-for-like sales growth of 8.6% during Q2
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Asda has revealed its life-for-like sales improved for the fourth consecutive quarter in Q2, up 2.9%, and hailed its most recent trading period as its best quarterly performance since Q1 2024.
The performance comes as total revenue excluding fuel hit £5.3bn, marking a slight 0.2% decline on the prior year.
The supermarket giant also revealed that George at Asda’s “unique combination of style, quality and unbeatable value” continues to appeal to value conscious shoppers, resulting in a 2.5% increase in like-for-like sales during the quarter.
In May, Asda opened its first standalone George concept store at Crown Point in Leeds. It added the concept has been “very well received” by shoppers and Asda is planning to rollout a further 10 stores across the UK next year.
Meanwhile, Asda Express continues to outperform the wider convenience market following the successful integration of all 469 sites acquired from the Co-op and EG Group, with like-for-like sales growth of 8.6% during Q2.
Asda said it will also resume its ‘standalone’ Express convenience store opening programme in early October in Castleford. The retailer plans to open up to 20 more convenience stores across the UK in the space of a month from late October onwards.
Allan Leighton, Asda’s executive chairman, said: “We saw a clear improvement in performance during Q2, with volumes and like-for-like sales strengthening, driven by better product availability and our material investment in price. This widened the price gap over competitors and firmly re-established Asda as the best-value traditional supermarket.
“This week, we completed the rollout of Project Future, with all stores now operating on our new systems. The collective rate of completion did cause some temporary disruption with product availability and in our online experience, which will impact our sales outturn in the current quarter.”
He added: “As planned, we expect to exit the year in like-for-like growth as we continue our investment in price to protect our customers from inflationary pressures. As we’ve said from the outset, transforming Asda will take time, but we remain confident in the direction of travel and the long-term potential of the business.”
