Asda returns to sales growth in third quarter
Asda‘s like-for-like sales increased by 4.7% in its third quarter to mark its strongest quarterly performance since the first quarter of 2021.
The uplift follows a decline in the supermarket’s second quarter.
Due to the latest Asda Income Tracker showing that the average UK household was £432 worse off across the period compared to a year earlier, Asda boosted its value initiatives to help customers make more of their money.
This included rolling out 141 new products in the Just Essentials value range which includes staples such as rice, pasta, tinned tomatoes and tuna. Asda said the range has helped it to attract 400,000 customers from other supermarkets.
During the period, Asda also refreshed its bakery, meat, fish and poultry categories by adding over 100 new lines at different price points. This has led to a 15.5% uplift in bakery sales year-on-year and a 6.4% increase in sales in the meat, fish and poultry categories.
Mohsin Issa, Asda’s co-owner, said: “The financial pressures on families across the UK is worsening and they are looking to us for help. Asda has a long-standing reputation for providing customers with outstanding value and it’s more important than ever that we deliver on this for them.
“We’re absolutely committed to ensuring that Asda remains the best value traditional supermarket – while introducing new value initiatives such as Asda Rewards that can make an immediate difference to customer budgets.”
The period also saw Asda acquire 129 convenience stores and attached petrol stations from the Co-op Group for a cash value of £438 million, although the deal remains subject to regulatory approval.
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