Walmart owned UK retailer Asda has reported the group’s second quarter financial report for the three month’s ending 30 June.
One of the UK’s leading supermarkets has reported its fifth quarter of positive growth, with a 0.4% increase in like-for-like sales.
The group added that, if the impact of Easter is excluded, like-for-like sales in the quarter grew by 2.6%.
Market Dominance
According to the latest Kantar Worldpanel release, the supermarket has improved against the market in 2018, with a 12.5% market share of total grocery sales.
Asda President and CEO, Roger Burnley, said that the second quarter performance shows continued momentum for 2018, being the first time it has outperformed the market since 2014.
“We remain focused on delivering our strategic priorities and investing in the areas that matter most to our customers - innovation in our own brand, lowering prices and in continuously improving our shopping experience both in store and online,” Burnley said.
“We welcomed an additional 285,000 customers to our stores over the quarter and grew online sales by 13.2% - and I am grateful to our colleagues for all their hard work.”
Private Label Growth
Commenting on Asda’s performance, 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.”
During the quarter, Asda extended its new own-brand vegan range, with new products such as falafel burgers and sweet potato sausages, and it also launched an own-brand Extra Special Gin selection, including flavours such as rhubarb and ginger along with pink grapefruit and elderflower.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.
