Asda sales slowed in the fourth quarter

Asda sales slowed in the fourth quarter

Asda, the UK's second-largest retailer, saw its sales growth slow in the final quarter of its financial year.

The Wal-Mart Stores UK unit today (21 February) reported a 1% increase in like-for-like sales, excluding VAT and fuel, for the 14 weeks to 7 January.

The rise followed a 1.3% increase in the third quarter of Asda's financial year.

However, citing Kantar Worldpanel data for the 12 weeks to 22 January, Asda said its sales were growing "at the fastest rate of the top four supermarkets".

When measured over Wal-Mart's fourth quarter, which was the three months to 31 January, Asda increased operating income "faster" than sales, excluding fuel, the US retail giant said.

Asda saw net sales, excluding fuel and the impact of the acquisition of Netto's UK stores, increase 2% during the quarter. Comparable-store sales, again excluding the Netto deal and fuel, inched up 0.1%. Traffic increased 0.6% but the average basket fell 0.5%, Wal-Mart said.