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Walmart reports Asda returns to positive like for like sales in Q2

August 17, 2017 11:00am
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Today Walmart has announced its financial earnings for the second quarter 2017 (1st April to 30th June) confirming Asda’s comp sales were 1.8% in the period excluding petrol. Whilst the period includes Easter trading, this is the first time Asda has reported a positive quarterly sales figure in three years.

Asda enjoyed one of its most successful Easter trading periods on record in 2017, with sales up 16%. Removing the Easter impact from the quarter gives Asda a 0.7% comp performance versus the same period last year.

Speaking about Asda’s performance in the quarterly earnings update to analysts Walmart President and CEO, Doug McMillon said: ”We’re also encouraged that the U.K. delivered positive comp sales. In June, I visited Asda to see the progress being made. Customers are responding to investments in price and store experience by visiting the stores more often and increasing their basket sizes.

“There’s still much more to be done, but we’re clearly headed in the right direction. While there, I visited stores as well as our Heston grocery-delivery fulfillment center. I was impressed by how the team is focused on not only improving grocery pick-up and delivery from stores, but also from fulfillment centers in higher-volume environments.”

Walmart Chief Financial Officer, Brett Biggs, commented:
“Turning to the U.K, Net sales increased 3.9 percent, and comp sales increased 1.8 percent. Customers responded to investments in the value proposition, and we continued to see sequential improvement in the business, including customer traffic and ticket.

Asda President and CEO, Sean Clarke, said: “Our continued focus on delivering great value and service meant 275,000 new customers chose to shop at Asda in Q2, particularly during Easter, which saw us return to positive comp growth. Recognition should go to our store colleagues for the progress made from 2016 but we know we need to continue to up our game to be in the best shape possible. We will continue to work collaboratively with our suppliers to create the best products, make investments where they matter most to our customers, and ensure that we are fit for purpose in what remains a competitive market.”

Walmart’s Q2 earnings presentation can be found here: http://stock.walmart.com/investors/financial-information/quarterly-results/default.aspx

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