UK-based retailer Asda has reported on its fourth quarter and full-year performance for 2009, with the Wal-Mart-owned group announcing improvements in year-on-year market share and overall group sales.
In a video briefing to the media, Asda's chief executive officer Andy Bond on a 'great year' for the retailer, with the group recording its highest-ever market share of 17.1 per cent, an increase of 30 base points, according to TNS data.
Comp sales growth for the 52 weeks ended 27 December 2009 without fuel totalled 6 per cent, with fourth quarter growth standing at 4.6 per cent – figures that compared 'very well' to the reported numbers for Asda's main competitors, Mr Bond said.
The improvement was driven primarily by an increase in customer numbers, but also by a higher average spend, despite the difficult economic climate.
And, despite a fourth quarter that was heavily impacted by challenging weather conditions in the UK, the group beat both its sales and profit targets for the year.
'I believe this year is going to be tough for consumers. Despite the official technical end of the recession, people are still worried about job security and balancing family finances,' said Mr Bond. 'That's why as we entered the New Year, we renewed our focus on 'every day low prices' and in January we launched our biggest and broadest range of Rollbacks for a decade.'
Meanwhile, Asda is set to broaden and accelerate its business through a combination of new store formats, launching new product lines and increasing online grocery market share, Mr Bond added.
No comments yet