Asda posts small Q1 sales rise
Sales growth for the previous quarter was 1.6%.
The supermarket said it expected to report improved figures for Asda in Q2. The first quarter figures excluded the Easter and Royal Wedding weekends which delivered “strong sales.” Asda said that Q1 like-for-like sales would have seen a rise of 0.8% if adjusted for the timing of Easter.
Operating income declined from last year due to charges related to the closure of Asda's defined benefit pension plan, and the costs for acquiring the 147 Netto stores. Asda said that the instore conversions would be completed by the end of the year with more than £100 million being invested and 1500 jobs being created in the process.
“Andy Clarke and the Asda team had a solid start to the year,” said Walmart International President & CEO Doug McMillon.
He added: “Two of our leaders in the UK, Asda Chief Financial Officer Judith McKenna and Asda Operations Director Supermarkets Karen Hubbard, have done a great job getting us to this point and we look forward to seeing the results of our conversions and integration.”
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