Asda sales strong in run-up to Easter
UK sales high as US consumers continue to be cautious
April 22 2003
Sales at UK supermarket chain Asda were among the strongest in the Wal-Mart empire in the run-up to Easter
Wal-Mart said its UK and Puerto Rican operations were the best performers in its business in the week ending on Good Friday. With US consumers still spending cautiously, Wal-Mart said sales in its core US business are “currently tracking near the low end” of the 5 to 7 per cent forecast.
Overall Easter sales were OK, said the company, with comparative sales of warm weather items low. Products such as fans, air conditioners, summer clothes, bikes, kids pools, marine equipment and coolers were all selling in double digits this time last year, making like-for-like sales comparisons tough.
The strongest US product areas were office supplies, electronics, toys, seasonal lines and food.
With more than 25 per cent of its stores now outside the US, analysts believe Wal-Mart will increasingly looking abroad for the growth it once enjoyed in the US. Ken Perkins, retail analyst for Thomson First Call told the Associated Press new agency: “The US market is pretty saturated. Clearly, they need to expand into foreign markets to generate the ongoing growth they’ve had.”
