Asda Q2 like-for-like sales up 0.5%
Asda announces Q2 2014 financial results, showing continued sales growth ahead of the market
18 August 2014
Asda’s sales have increased by 0.5% on a like-for-like basis in the ten weeks to 30 June, excluding petrol*. The retailer announced it increased its market share year on year by 14 basis points in “continuing challenging trading conditions”.
Speaking at a briefing in London, Asda president and CEO Andy Clarke said: “The last quarter has seen unprecedented change within the food retail sector, and whilst I do not underestimate the challenge currently presenting retailers, I am proud that our business identified and put plans in place to respond to these changes early. We have a clear five year strategy based on Everyday Low Prices and we continue to implement that strategy with agility and pace.”
A “key pillar of Asda’s strategy” remains a continued investment of £1 billion in Everyday Low Prices (“EDLP”), which has been at the core of the business for decades.
In non-food, the George brand continues to perform well and is now the second largest clothing brand in the UK in terms of sales volume.
The supermarket added that it is making good progress on its ambition to ‘lead online’ and reported market share had increased to 18.4%. This growth continues to be driven by the expansion of Click and Collect, which now accounts for 10% of all online orders and is used by more than 20,000 Asda customers per week.