THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2024
Retail HR Central 2024
The Future of The High Street 2024
Retail HR Summit
THE Retail Conference
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Asda raises target for small format stores

Asda has announced that it will raise its target of opening 100 new supermarket sized stores to 250, following the opening of its hundredth smaller format… View Article

GENERAL MERCHANDISE NEWS

Asda raises target for small format stores

Asda has announced that it will raise its target of opening 100 new supermarket sized stores to 250, following the opening of its hundredth smaller format store next week.

The retailer is opening eight 5,000 to 25,000 sq ft stores per week currently and so far has  converted 61 of the 146 Netto stores that it acquired last year. Asda had originally bought 193 Netto stores but was forced to dispose of 47 due to competition reasons.

The stores are much smaller than Asda’s  superstores and carry a wide enough range of products to emable customers to buy everything they need for a weekly shop at the same price as the larger outlets. Asda is aiming to open 180 small format stores by the year end.

Karen Hubbard, operations director of supermarkets at Asda, said: “We’re bringing back old-fashioned supermarkets where you can get everything you want. 

She added: “The average basket size at the existing smaller stores is 15 pounds and shows there is opportunity for the full-weekly shop in smaller stores.”

Yesterday chief executive Andy King said that Asda would be interested in buying some of the 730 Iceland  stores if they become available. Majority owner Landsbanki has begun a process to sell a stake in the business.

Last week it was reported that rival supermarket chain Morrisons was also interested in acquiring some of the Iceland stores, following its appointment of Credit Suisse as its investment adviser.

 

Subscribe For Retail News