Asda’s like for likes rise
Asda has delivered a 5.5 per cent increase in second-quarter like-for-like sales excluding fuel.
Underlying sales, which were adjusted for the timing of Easter, rose six per cent in the three months to June 30, up from five per cent in the first quarter. The groups market share rose 0.6 percentage points to 12.3 per cent year on year, in the 12 weeks to July 13. Chief financial officer Judith McKenna said: “Asda is gaining market share at the fastest rate in many years. In addition, Asda surpassed its plans for both sales and operating income, in spite of a slowing economy.”
Asda said that UK stores in popular seaside resorts have been trading well as the credit crunch forces more people to holiday in Britain than go abroad. “The coastal stores have traded phenomenally well,” said McKenna. “All of the south coast seaside stores have done well.”
