Quarterly sales growth at Asda despite challenging year
Leeds-headquartered Asda has reported a 1% sales growth in the period up to Christmas despite “another challenging year for the retail market.”
Publishing results for the final quarter of 2018, between 1st October and 31st December, the Big Four supermarket said it delivered a 1% increase in like-for-like sales excluding petrol – the seventh consecutive quarter of positive YOY comp growth.
Asda President and CEO, Roger Burnley, said: “2018 was another challenging year for the retail market and the pace of change shows no sign of abating. It’s clear that retailers have to be prepared to innovate and challenge their status quo if they want to continue to remain relevant and deliver for their customers who rightly demand great value.
“That is why 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.
“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.”
Walmart President and CEO, Doug McMillon added: “In the UK, Brexit – and the potential implications of a hard Brexit – is increasingly on the mind of everyone. No matter the situation, Asda will always work to keep prices as low as possible for its customers, I visited our team in the UK a few weeks ago, and am really impressed with their performance, attitudes and leadership. They’re amazing.”
Walmart Chief Financial Officer, Brett Biggs added: “In the UK, Asda’s progress on improving the value proposition, growing online grocery share and expanding private label penetration contributed to its seventh consecutive quarter of positive comps.”
