14th Aug 2014 14:13
LONDON (Alliance News) - Asda Ltd, owned by US retail giant Wal-Mart Stores Inc, said it saw sales and market share increase in the second quarter of its financial year.
Asda, Britain's second largest supermarket chain, said like-for-like sales rose 0.5% excluding petrol in the 10 weeks to June 30.
It said it also managed to increase its market share year-on-year by 14 basis points.
"The last quarter has seen unprecedented change within the food retail sector, and whilst I do not underestimate the challenge currently presenting retailers, I am proud that our business identified and put plans in place to respond to these changes early," said Chief Executive Officer Andy Clarke in a statement.
"We have a clear five year strategy based on Everyday Low Prices and we continue to implement that strategy with agility and pace," he added.
Asda's 'Everyday Low Prices' strategy is helping it outperform its rivals, in what has been described as a 'price war' in the supermarket sector.
The UK's big-four supermarket chains continue to face pressure from heavy discounters Aldi and Lidl, and upmarket grocers Waitrose and Marks & Spencer Group PLC at the premium end.
Asda and J Sainsbury PLC continue to outperform Tesco PLC and Wm Morrison Supermarket PLC, posting growth in sales and maintaining market share, which for Asda currently stands at around 17%, according to Kantar Worldpanel's latest grocery figures last month.
Asda said Thursday that growth in sales has been boosted by growth in the number of click and collect orders made online and grocery home shopping.
"Grocery home shopping continues to grow with market share now 18.4%. Click & Collect continues to drive e-commerce growth with more than 20,000 customers per week," it said.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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