Asda reports decline in rate of sales slump

Asda, the Leeds-headquartered supermarket chain, has reported a 2.9% sales decline for the fourth quarter to 31st December 2016.

Although Asda is still experiencing a decrease in sales, it appears that the Walmart-owned supermarket is showing signs of a recovery.

The figures show an improvement in the supermarket’s performance on the previous quarter, in which sales declined 5.8%.

Doug McMillon, Walmart president and CEO, said: “In the UK, we faced some challenges this past year and we’re addressing this with urgency. I’m glad comp store sales improved during the fourth quarter, but we have a lot of work to do.”

Brett Biggs, Walmart chief financial officer, also commented: “Turning to the UK, net sales declined 0.6% and comp sales declined 2.9% in the quarter.

“We have a lot of work to do in this market, but we’re encouraged by some early signs of traction with improvements in the customer value proposition.”

Sean Clarke, Asda president and CEO, added: “We are encouraged by the early signs of our customers responding positively to the hard work that’s been happening in our stores throughout 2016, which saw us welcome over 140,000 customers back to Asda this last quarter.

“We are putting customers first and have sharpened our prices, improved our ranges and availability, all with friendly service.

“While we have a lot to do, it is great to see our colleagues, who really make the difference, engaged in this change in doing what’s right for customers.”

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