Asda has seen its sales grow by 1.1% for the third quarter ending 30th September, as Walmart announced its financial earnings for the period.
Net sales in the retailer were also up 3.6%, with the company seeing “improved results as customers responded to investments in the value proposition”.
Gross profit rated marked a decline, which was primarily driven by commodity price headwinds, as well as “on-going price investments”, according to Walmart.
Walmart added that the company “leveraged operating expenses during the quarter through sales growth and continued cost control”.
Asda chief executive officer, Sean Clarke, commented: “Right now, we are focussed on delivering value for our customers across all of our ranges this Christmas and ensuring everyone gets a great experience, both instore or online.
“The market environment will continue to be challenging into next year but we’re well placed with clear plans and a renewed level of confidence.”
Walmart president and CEO, Doug McMillon, said: “In the U.K., Asda delivered positive comp sales again this quarter.
“The improvements in store experience and price investments are increasing store basket sizes.”
Commenting on Roger Burnley’s appointment as Asda’s CEO, starting next year, McMillon added: “Over the past year, Roger has been our COO and deputy CEO and he has a long and distinguished retail career.
“I’d like to thank Sean Clarke for the tremendous work that he has done over the past year to stabilize the business and position it for growth.”
