Tuesday, 20 February 2018

Asda reported sales rise on strong Christmas

Asda has reported rising sales in the final months of last year and said it had a strong Christmas trading period.

It reported a 0.5% increase in like-for-like sales - the most closely watched measure of sales, which strips out the effect of new stores.

It is the third quarter of sales growth for Asda, which had previously seen three years of falling sales.

Asda is owned by Walmart, which reported a 2.6% increase in like-for-like sales during its fourth quarter.

However, the US retail giant saw profits fell 42% to $2.2bn.
Asda credited its low prices and an improved customer experience for its rising sales.

Walmart chief executive Doug McMillon said he was encouraged by the performance, but said there was "more work to do" at Asda.

Bryan Roberts, retail analysts at tcc global, said the company "played a good game over Christmas".

"During visits, we've seen a marked improvement in service levels and sharper all-round availability," he said.

BBC     News.