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Asda reports sixth quarter of positive growth

November 15, 2018 00:00pm
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Today (15th November 2018), Walmart has published its earnings returns for the third quarter including financial results for Asda (1st July 2018 to 30th September 2018).

The supermarket posted a 2.0% increase in like-for-like sales in the quarter – its sixth consecutive quarter of positive comp growth. On Tuesday, Kantar Worldpanel data showed the retailer accounts for 12.7% of the total grocery market*.

Commenting on Asda’s performance, Walmart President and CEO, Doug McMillon said:
“In the U.K., comps of 2.0 percent marked the sixth consecutive quarter of growth, and online grocery sales outpaced the market, according to Kantar. Additionally, we received follow-up communication from the competition authorities related to the proposed merger of Asda and Sainsbury’s. This latest statement was in-line with our expectations, and we will continue to proactively work through the process with the CMA.”

Walmart Chief Financial Officer, Brett Biggs said:
***“***In the U.K., net sales increased 3.7 percent and comp sales grew 2.0 percent, which is the sixth consecutive quarter of positive comps. The market remains highly competitive and we took steps to maintain our competitive position. Asda continues to make progress against its key strategic priorities, including improving its price position and expanding private label penetration.”

Asda President and CEO, Roger Burnley, said:
“In a challenging third quarter for the market we continued to focus on the areas that we know are important to our customers and deliver on our strategic priorities. As a result we were pleased to welcome an additional 115,000 customers through our doors and outperform the market for the second quarter running.

“During the quarter we continued to grow our distinct Own Brand offer, including the expansion of our Free From range to include 113 new lines, as well as expand scan and go to 192 stores. We were delighted to work with Denbies in Surrey to launch our first English Sparkling Wine and we also opened our first two food re-distribution centres in the East Midlands and Leeds as part of our ground-breaking Fight Hunger Create Change programme with FareShare and the Trussell Trust.

“As we enter what will undoubtedly be an incredibly competitive festive trading period, our stores are fully prepared to bring Christmas home for our customers. I would like to say a huge thank you to our fantastic colleagues for all their efforts to make shopping with Asda easy and friendly over the festive season.”
Here are some highlights from Q3 for background information:* Asda achieved 13.8% growth in online grocery sales

  • Asda launched a new Free From range with 113 new lines, increasing its chilled range by 42% and ambient grocery range by 21%. This included unicorn and monkey cupcakes as part of a kid’s novelty range along with some Free From pizza making kits

  • Asda launched an Extra Special English sparkling wine in September which is produced by Denbies in Surrey, an example of the new innovation among its own brand lines

  • Asda’s Fight Hunger Create Change partnership with FareShare and the Trussell Trust opened two new food re-distribution centres in the East Midlands and Leeds

  • Asda now operates Scan and Go in over 192 stores

*Total Grocery Market Share, Kantar Worldpanel data for the 12 weeks ending 04th November 2018

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