UK retailer Asda has reported underlying sales growth of 8.4 per cent for the first quarter of the fiscal year, representing its 12th consecutive quarter of market out-performance.
Market share grew by 30 basis points through the period and Asda gained customers from all competitors, the group said, attributing its success to 'outstanding value, improving quality and the use of customer insight to drive innovation and offers'.
Sales were boosted by the introduction of a number of deals on a range of meat, frozen and health and beauty products, in addition to its rollback price campaign.
'These are difficult times for many of our customers, so delivering great value has never been more important. That's why we are really proud of our performance this year,' said Asda CFO Judith McKenna. 'Customers continue to tell us what's important to them, and we have hit the sweet spot by finding the right balance between lowering prices, improving quality and reducing our costs.
'As a result, we are winning even more customers and we're gaining them from all of our competitors,' she added.
Parent group Wal-Mart International reported that overall groupsales fell 0.6 per cent during the first quarter,impacted by a lower International result and lower sales at its Sam'sClub operation. US sales rose 3.8 per cent, the company said.
Commenting on Asda's results, Wal-Mart CEO Mike Duke said: 'Asda had a standout quarter, leading on price and gaining market share. I can't tell you how proud I am of our Asda colleagues.'
No comments yet