Asda Sales Grow Nearly 10% as Cash-Strapped Shoppers Seek Value on Food
- Supermarket says it’s committed to keeping prices affordable
- More than 22 million customers have bought Asda’s value range
An Asda supermarket in London, UK.
Photographer: Jose Sarmento Matos/BloombergThis article is for subscribers only.
Asda’s sales grew almost 10% as Britain’s third-largest supermarket chain said it was focusing on value for consumers.
Revenue excluding fuel reached £5.4 billion ($6.9 billion) in the second quarter, Asda said Tuesday. It comes after data from market research firm Kantar showed shoppers are still prioritizing discount grocers, with Aldi and Lidl posting the fastest sales growth in recent weeks as food inflation in the UK remains above 10%.