Asda reported revenues of £2025 billion (excluding fuel) in the first quarter of 5, down 5,9% year-on-year, also impacted by the extra day of 2024 for a leap year. Like-for-like sales, adjusted to include Easter, fell 3,1%, but showed signs of improvement compared to the previous quarter.
The British chain is continuing its strategic plan to become the best value full-service supermarket in the UK. More than 10.000 products have been marked down thanks to the “Asda Price” initiative, which has generated a price advantage of between 3% and 6% over the competition. On-shelf availability levels have risen from 90% to 95% since January, with a positive impact on customer satisfaction.
The best performances came from the fashion and convenience segments: George saw sales rise by 3,5%, while Asda Express posted a 6% like-for-like sales increase, supported by the integration of stores acquired from the Co-op and EG Group.
In parallel, Asda has invested £80m in increasing employee pay, taking the hourly wage to £12,60, and launched new welfare measures for working families. CFO Michael Gleeson reiterated the strength of the financial plan, which allows it to continue to lower prices and strengthen the value proposition for customers.
