George this week leapfrogged Primark to become Britain’s second biggest clothing retailer by volume, behind Marks & Spencer. Figures from TNS showed Asda’s market share rose to 9.5 per cent.
Thompson said: “We’ve very pleased with the progress we are making with George in the three areas of quality, range and value and our customers are noticing it too. Market share figures are applause for getting it right but, as our trading patterns are different to the high street, we imagine ourselves and Primark will overtake each other several times over the next year.”
Thompson said he set out his objective to be the biggest clothing retailer by volume by 2011 in order to be able to “work with the best factories, secure the best quality and styles, and receive the best prices so savings can be passed on to customers”.
He said the business has improved significantly this year but is not “standing still”. While Christmas will be “a bit of a rollercoaster”, George is well placed to ride the economic storm as it has an “everyday low-cost mindset”, he said.