Asda delivers continued growth in first quarter
Asda has seen its first quarter total revenues increase by 6.6% to £5.3 billion after like-for-like sales grew by 1.4%.
The supermarket said the growth included a particularly strong contribution from its George at Asda brand where total clothing revenues edged up 3% to £293 million and by 3% on a like-for-like basis. Some of the best performing categories included school wear and homeware where sales rose by 11% and 11.7% respectively.
Asda’s online grocery business also performed well, driven by a 5.6% increase in average weekly orders in the quarter.
Mohsin Issa, Asda’s co-owner, said: “Asda made good progress against its strategy in the quarter, laying the foundations for long-term success – including completing the conversion of our newly acquired sites to Asda Express, as part of our strategic expansion into the growth markets of convenience and food-to-go.
“We did this while continuing to deliver great range, value and convenience, including investing in lower prices and the quality of our food and non-food at a time when the household budgets of our customers remain under pressure.”
It also also launched two new value propositions in the period including ‘Fab 5’ and ‘Mega Event Price Drop’, both of which offer customers discounted prices.
Michael Gleeson, Asda’s chief financial officer, said: “During Q1, we continued to help customers manage their household budgets by providing uncompromising value on food and non-food ranges.
“It was pleasing to see our investment in further enhancing the quality of our food, Aldi and Lidl price match, Asda Rewards, and George at Asda resonate so strongly with customers.”
