Speaking at the annual IGD Convention in London yesterday (11 October), Clarke also claimed that Asda, the UK’s second-largest retailer, now has the fastest growing own-label brand of the country’s major retailers.
“In a year where we continued to focus on price,” he told journalists on the fringes of the event, “we now have the fastest growing own-label brand.”
He said Asda’s Chosen by You own-label range now accounted for 40% of the chain’s food sales and claimed that, for the first time in its history, the retailer’s share of the private-label category was ahead of Sainsbury’s.
Asda announced the launch of the Chosen By You range last year after it revamped its standard own-label food and drink range under the brand name.
In September, Asda said it had developed a specific Chosen By You own-label range for its Scottish stores.
The range comprises 22 lines including Scotch Pies, Pineapple Tarts, Strawberry Tarts and a Scottish Plain Loaf. Asda said the products have been tried, tasted and approved by over 1,200 Scottish shoppers.
In a filing with Companies House last week, Asda, which is owned by Wal-Mart Stores, revealed that its revenues were up 3.6% to GBP20.55bn (US$32.03bn) in 2010, with like-for-like sales, excluding petrol and VAT, increasing 0.6%.
However, Asda reported a fall in profits due to higher share option costs and an increase in royalty payments to Wal-Mart.