UK: Asda claims "market-leading" growth in Q1
Asda, the UK's second-largest retailer, said today (17 May) its underlying sales growth accelerated in the first quarter of its financial year.
The company reported a 2.2% increase in like-for-like sales, excluding VAT and fuel, for the 12 weeks to the end of March.
The result compared to the 1% increase in the final quarter of Asda's last financial year, which comprised the 14 weeks to 7 January.
CEO and president Andy Clarke said Asda had built on its "end-of-year momentum" and recorded "market-leading growth".
Total first-quarter sales were up 7.1%, Asda said. Doug McMillon, president and CEO of Wal-Mart's international arm, said Asda had put in a "strong" first quarter. He noted operating income grew "faster than sales, excluding fuel".
McMillon added: "Traffic in the quarter increased by 2.9%, and average ticket also increased by 2.1%. In addition, our online business in the UK maintained its strong performance, with sales growth of 19.2% in the quarter. With customers trusting every day low prices, we carried the momentum gained over Christmas into the first quarter. The Asda price guarantee attracted more than 500,000 online checks per week in the first quarter."
Retailers are still driving most of the share gains but food manufacturers are holding their own, pressing on every aspect of the marketing mix to optimise their offer to the consumer and drive share,...
Dorset Cereals is looking at securing listings for its new Proper Porridge line at Morrisons and Asda....
- 2017: three major drivers of M&A strategy
- The food market in 2017 - consumer trends and M&A
- just-food 2017 Survey - your thoughts on growth
- Food market in 2017: need-to-know US trends
- 2017 - what will shape the UK food sector?
- Premier Foods issues profit warning
- UK's Bakkavor plays down IPO "speculation"
- Kellogg to slash 250 jobs
- Mondelez sells Vegemite to Bega
- Nestle mum on Mead Johnson takeover talk