In the UK, Asda has announced that it achieved like-for-like sales growth of 7.2 per cent during the second quarter of the year on an Easter-adjusted basis, with sales up 7.9 per cent on an unadjusted basis.
The improvement was based on strong food sales, according to Asda, as food inflation hit its lowest level for two years during the three-month period.
Market share at the group, which is owned by US retail giant Wal-Mart, rose slightly from 16.7 per cent to 17 per cent on a year-on-year basis.
'We're pleased with these results as they demonstrate the ongoing health of our business,' said Judith McKenna, chief financial officer of Asda. 'By continuing to be the lowest price retailer and by broadening our appeal, we're attracting more customers, and increasing our sales volumes.'
A number of changes were made through the second quarter, with new store openings taking the yearly total to 10, with Asda remaining on course to hit its target of creating 7,000 new jobs by the end of 2009.
Despite the strong quarter, Ms McKenna said that the group remained cautious in the uncertain economic climate.
'Consumers continue to be somewhat cautious, with many people choosing to use extra money they have to pay down debt and save more,' she added. 'This is not going to be a straight line economic recovery, however, in this environment, we are well placed to continue gaining market share by giving customers what they want – great products at low prices.'
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