Asda posts second quarter sales decline as it works to keep ‘grocery bills in check’
Asda saw its like-for-like sales fall by 1.9% year-on-year in the three months to 30 June, although the performance marked an improvement on the 9.2% decline seen in the supermarket’s previous quarter.
In its second quarter trading update, Asda said it delivered positive like-for-like sales towards the end of the period with the growth trajectory continuing into its third quarter. This was driven by a continued investment in price and quality in categories such as produce, meat, fish and poultry.
With the latest Asda Income Tracker showing that households were on average £160 worse off in July compared to last year, the supermarket has stepped up its support for customers struggling with the cost of living crisis.
During the quarter, Asda accelerated the rollout of its new budget friendly ‘Just Essentials’ range, which launched in May. This means that some 220 products are now available in-store across a wider selection of fruit, vegetables, fresh meat, fish and poultry products.
In addition, the supermarket has expanded its ‘Dropped & Locked’ pricing campaign to include more than 250 products which will have their prices held for the rest of the year.
Mohsin Issa, Asda’s co-owner, said: “Every week millions of customers visit our stores or shop with us online and we know many of them are struggling with rising living costs that show no sign of easing. We are determined to do all we can to support these customers during these tough times by keeping their grocery bills in check while delivering added value through initiatives such as Dropped & Locked and the Kids Eat for £1 offer in Asda cafes.”
