Asda reports fifth consecutive quarter of sales growth
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Asda has reported its fifth consecutive quarter of sales growth after it posted a 0.4% increase in like-for-like sales.
The results represent the first time that the supermarket has outperformed the market since 2014. Removing the impact of Easter, like-for-like sales in the quarter grew by 2.6%.
The increase in sales was attributed to a 13.2% growth in online grocery sales along with 24.9% growth in George.com sales. Asda also welcomed an additional 285,000 customers across its 2,800 stores across the same period.
Walmart president and CEO, Doug McMillon, said: “In the UK comp sales were positive for the fifth consecutive quarter. We’re focused on improving the experience in our stores and providing great value for customers through lower prices, especially within our private label offerings.”
Walmart CEO, Brett Biggs, added: “The Easter timing shift resulted in an approximate 220 basis point incremental comp headwind in the quarter. Asda is improving its relative position within the U.K. grocery market, and we saw improvement sequentially in market share trends.”
