The UK’s number two supermarket chain Asda has weighed in to the post-Christmas retail results frenzy, with chief executive Andy Bond saying fresh food sales have helped the chain to its best festive period ever.
Asda, owned by US giant Wal-Mart does not release its figures, so we’ll have to take Bond’s words as gospel. "We served a million more customers in the week before Christmas compared with the previous year," he said in a statement.
"As a result we had our best ever Christmas, with the strongest performances in both fresh food and clothing."
The new year has started well too, he added. "Customers are definitely tightening their belts, but I believe value retailers, who deliver low prices and great quality week in, week out, will be the winners in 2008," Bond said.
Sainsbury’s will report its Christmas trading tomorrow. Its shares have taken a nosedive today [Wednesday] as the City braces itself for a disappointing announcement.
