Asda '˜on right track' despite latest quarterly sales slump
Asda has posted another fall in quarterly sales, but the supermarket's US owner has insisted that the company is 'on the right track'.
The chain, owned by Walmart, reported a 2.8% fall in like-for-likes sales in its first quarter.
The figure represents an 11th consecutive quarter of sales declines but marks a slight improvement on the previous period, which saw Asda sales fall 2.9%.
“We’re pleased that the momentum of the fourth quarter has continued into the New Year with a third consecutive quarter of improvement,” said Asda CEO Sean Clarke.
“We’re delivering more consistently for our customers, particularly in fresh food, service and availability - both in stores and online.
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“Participation in our award-winning own brand ranges has increased as we focus on increasing its value and quality and make sure we are offering the right ranges for our customers.
“Despite this progress we are in no way complacent and there is still much for us to do.”
Mr Clarke, who took up the reins last summer after being parachuted in to replace previous boss Andy Clarke, has slashed the prices of everyday items as he attempts to arrest falling sales.
Last August Asda posted its worst ever sales fall of 7.5%.
In response, it announced in September it was lowering thousands of prices on everyday favourites by an average of 15%, with items such as beef, chicken and sausages all becoming cheaper.
The move, part of a new value campaign dubbed That’s Better, has also seen Asda improve the quality of its own-brand ranges.