Asda growth outstrips rivals
Supermarket chain broadens UK offer with non food products
November 9 2003
Asda grew its total sales by 15.5 per cent to $19.4bn in the year to the end of December 2002.
Accounts recently filed by parent company Wal-Mart show that Asda’s net sales increased by 12.1 per cent to $17.9bn, the lower net growth rate reflecting increased VAT payments as the company expanded its range of non-food products.
In a year which saw staff numbers increase from 100,266 to 116,101, Asda opened ten stores, including large format Asda Wal-Mart Supercentres, its standard superstores, and some smaller format units, bringing the total of 265 at the end of the year.
At 15.5 per cent, the rate of sales growth at Asda is ahead if its fastest growing rivals during the comparable period. Tesco reported sales growth of 11.5 per cent in year to February 22, while Morrisons growth rate was 9.4 per cent in the year to February 2.
Sainsbury’s, which Asda has now overtaken to claim the second spot in the UK supermarket league table, reported sales growth of 3 per cent in the year to the end of March.
