FOOD AND DRINK NEWS UK
Asda like-for-like sales edge up 0.5% in second quarter
16 August, 2019 | by Angela Beevers
Walmart has announced that Asda increased its like-for-like sales by 0.5% in its second quarter.
In the three months to 30 June, total sales rose by 1.3%.
Walmart said Asda’s gross margin rate declined in the period following the impact of stronger fuel sales, soft sales in higher margin general merchandise categories, strategic price investments and markdowns. The company added that the results reflect the challenges faced by shoppers due to uncertainty surrounding Brexit.
Looking ahead, Walmart said Asda will be improving its price position over last year and expanding on-shelf availability.
