Asda has nowhere to go but up, according to analysts at Banc of America Securities.
At a recent Asda Wal-Mart meeting in Leeds, Banc of America analyst David Strasser was of the opinion that Asda’s business has bottomed, and that there should be improvement going forward, according to reports in the US.
Asda is a discount retailer of food and clothing.
The article, on forbes.com, said: “The Asda management team plans to drive growth by capitalising on the higher demographic customer, a need also expressed by Wal-Mart at its October analyst meeting in Bentonville. Overall, Asda tells analysts it expects the turnaround to take 18 months.”
Strasser is quoted as saying that Asda’s management’s willingness for change could drive strategic shifts, and he suggested re-establishing a price leadership gap for Asda and improving product quality and presentation, highlighting this with proprietary labels.
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