Asda emphasised today (15 November) that it has been able to win over market share as it reported slightly higher third-quarter sales.
The UK arm of Wal-Mart said that sales in the three months to 29 September edged up 0.3%. However, the company stressed, the group "out-performed" the market and Asda grew its share of total sales by 10 bps year-on-year to 17.5%.
"These are solid results in a tough market," CEO Andy Clarke emphasised. "We continue to strike the right balance in terms of delivering low prices, great quality and unbeatable service. That focus on real value is what our customers want."
Clarke said that UK consumer spending power is being increasingly squeezed. According to Clarke, this makes Asda's continued price investment "more important than ever".
In a separate announcement today, Asda parent Wal-Mart also emphasised the ongoing importance of its price-focus. This, Wal-Mart said, will become even more relevant as it moves into the key Christmas trading period
Asda added that it is hoping to drive long-term sales gains by further developing its multi-channel strategy, including the roll out of more click and collect locations.
