Asda posts first-quarter sales decline
Asda has reported a fall in like for likes as a later Easter this year contributed to a drop in comparative sales in its first quarter.
Asda’s like for likes slid 1.1% due to the timing of the holiday but rose 0.5% when adjusted for when Easter fell.
It achieved double-digit growth on both Asda.com and George.com and invested in price during the quarter, which helped own-brand product growth outpace the market.
The Walmart-owned business, which was blocked by the CMA from merging with fellow big four grocer Sainsbury’s, had previously racked up seven consecutive quarters of like-for-like growth following a five-year decline.
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