Home NEWS Business Asda on track to post first rise in sales for three years

Asda on track to post first rise in sales for three years

1 min read

Asda is expected to serve up its first quarter of positive sales growth in three years this week, giving the supermarket a brief respite from 12 quarters of relentlessly woeful trading.

The Walmart-owned supermarket has been tarnished as the worst performing major grocer as its rivals have been more aggressive in responding to the threat from rapidly expanding discounters Aldi and Lidl.

However, the grocer could report like-for-like sales growth of around 1pc to 2pc for the second quarter, marking a turnaround from the 7.5pc sales slump last year, which was its worst ever result.

Asda will have benefited from the  return of shop price inflation and ­favourable comparisons against last year’s drop, but the supermarket has also been buoyed by new boss Sean Clarke’s efforts to stabilise it.

Source link

Load More Related Articles
Load More In Business
Comments are closed.

Check Also

Fed Officials Confront New Reality: Low Inflation and Low Unemployment

But the weakness of inflation, which the Fed now expects to remain below its target annual…