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23 February 2017

Asda Q4 comp sales decline by 2.9%

Asda’s comp sales fell by 2.9% in the fourth quarter to 31 December 2016, according to parent company Walmart.

Asda’s comp sales fell by 2.9% in the fourth quarter to 31 December 2016, according to parent company Walmart.

The figures show an improvement in the supermarket’s performance on the previous quarter, in which comp sales declined 5.8%.

Speaking to analysts Walmart president and ceo, Doug McMillon, said: “In the UK, we faced some challenges this past year and we’re addressing this with urgency. I’m glad comp store sales improved during the fourth quarter, but we have a lot of work to do.”

Meanwhile, Asda president and ceo, Sean Clarke, said: “We are encouraged by the early signs of our customers responding positively to the hard work that’s been happening in our stores throughout 2016, which saw us welcome over 140,000 customers back to Asda this last quarter.”

 

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