Asda closed the first quarter of 2026 with signs of improvement in commercial and operational performance, confirming the initial effects of the "Formula for Growth" relaunch plan launched by the group to strengthen its position in the British large-scale retail market.
In the period ended March 31, the retailer reported total revenue, excluding fuel, of £5 billion, down 1,5% compared to the same period last year. Despite the decline in revenue, the company reported a significant improvement in like-for-like sales, from -4,2% in the fourth quarter of 2025 to -0,8% in the first quarter of 2026. Taking into account the calendar effect of Easter, the figure stands at -1,3%.
The recovery was primarily driven by improved operational efficiency. Product availability on shelves remained above 95% throughout the quarter, the highest level in eight years, contributing to greater customer satisfaction and a better shopping experience.
At the same time, Asda continued to invest in strategic categories, strengthening its price positioning compared to the main full-service British supermarkets. Independent comparisons conducted by Which? and The Grocer confirmed a growing competitive advantage in terms of value.
Asda Express, the convenience store format, continues to grow, recording its seventh consecutive quarter of growth and continuing to outperform the UK convenience retail market. The company now aims to further accelerate this growth through new partnerships with third-party food brands, designed to expand its offerings in smaller stores.
"Performance continued to improve throughout the quarter and broadly aligned with our expectations," said Allan Leighton, Asda's executive chairman. "The stabilization of our operations allowed us to achieve continued improvements in product availability, pricing, and customer satisfaction."
Leighton also highlighted the launch of the “Take a Fresh Look” campaign, with which the brand invites consumers to return to shop in Asda stores to experience first-hand the changes introduced in recent months.
Among the most significant strategic developments is the agreement announced with Ocado Group, intended to strengthen the grocery e-commerce business. The partnership will enable Asda to adopt advanced technologies for online order management and improve its competitiveness in a channel that continues to experience strong growth in the UK.
On the financial front, CFO Michael Gleeson highlighted disciplined liquidity management and a solid capital structure, with all major debt maturities already covered through 2028. "We performed in line with expectations in the first quarter and significantly improved compared to the previous quarter. We look to the coming months with the aim of consolidating the greater stability achieved and continuing to implement our growth plan," he stated.
Alongside the publication of the results, Asda also announced the launch of its new barbecue range for summer 2026, which received awards in tasting tests for its innovation and quality, as well as a significant refresh of its frozen food assortment, with new products and promotional initiatives aimed at further strengthening the appeal of the offering.
