Asda saw its like-for-like sales growth slow in the second quarter in what the UK retailer said was a “tough” market.
The grocer’s like-for-like sales, excluding VAT and fuel, grew 0.7% in the 12 weeks ended 5 July. In the previous quarter, LFLs were up 1.3%.
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CEO Andy Clarke said the consumer “remains under pressure” but added the retailer was “pleased” with its results in what has been “a tough market”.
Asda said it had continued to invest in creating a “multi-format, multi-channel business”. It will also launch a same day grocery collection service at its Wakefield store this month – a first in UK grocery retail, it claims.
The retailer said it plans to invest in physical store sites by expanding its site acquisition activities, opening more bricks and mortar stores, petrol filling stations and click-and-collect sites.
Doug McMillon, the head of parent company Wal-Mart Stores’ international operations, said: “The UK is an example of where we are leading with a core strength, investing in price on essential food items. In the UK, we continued to grow both sales and operating income in the second quarter of the year, with operating income growing 7.5%.”
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