Around 25,000 Asda staff have pocketed a share of £62m from a share save scheme with the grocer’s parent company that came into effect in 2016.
The Leeds-based grocer has received the windfall due to a strong return from the company’s Save As You Earn scheme, which allowed for staff to save between £5 and £300 from their salary each month for three years starting in 2016.
After that three-year saving period, staff were then able to buy shares in Asda’s parent company Walmart at a 20% discount. Since 2016, Walmart shares have more than doubled, from £36.99 to £87.12 per share at the maturity date of July 1, 2019.
A staff member putting aside an average of £70 per month would have saved £2,520 over three years but received £5,924 in their bank account.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.