Press Centre

Today (Monday, 7th April) Doug McMillon President and CEO of Walmart met with the Rt. Hon. David Cameron MP at Asda’s Clapham Junction store in London.

Mr McMillon, who recently took on the role of President and CEO of Walmart, is in the UK as the world’s largest retailer prepares to hold its first ever Board meeting in the UK. Mr McMillon showed Mr Cameron around the London store, which is one of 577 Asda stores in the UK. Asda became part of the Walmart family, which operates over 11,000 stores globally and employs 2.1 million people, in 1999.

Following the visit, Mr McMillon, who until recently oversaw Walmart’s international operations said:

“It has been a pleasure to meet with the Prime Minister today and reaffirm Walmart’s commitment to investing in the UK. We know that the UK is a great place to do business and since Walmart acquired Asda 15 years ago we have been able to invest £8bn in the UK economy – creating over 100,000 jobs, opening 342 new Asda stores and bringing lower prices to millions of customers.

“A seismic shift in the structure of the retail market is underway – not just in the UK – but right across the world. Asda recognised the change in its market and took early action to develop and implement a strategy that will see it grow – creating more new jobs and bringing real value to more customers in the UK.”

Asda’s five year strategy has the potential to create up to 12,000 new jobs in parts of the country where Asda does not currently have stores.

Prime Minister David Cameron said:

“Supporting business, creating jobs and cutting taxes are all part of our long-term economic plan. Yesterday, our tax reforms cut income tax for 26 million people and will help businesses to create jobs. I am delighted that Asda is continuing to invest heavily in the UK, creating another 12,000 jobs that will give people financial security for the future.”

Posted in Press Centre on 07 April 2014
Press Centre
  • Household spending increased year-on-year in every region of the UK in March; Northern Ireland and the North East saw some of the biggest gains, helping to close the gap with London
  • Cost of living in London is rising faster than elsewhere in the UK, holding back spending power growth in the Capital
  • The average UK household had £170 a week of discretionary income in March 2014, up £7 a week year-on-year, the sixth month in a row that families have seen their household incomes rise
  • The increase in spending power was driven by unemployment falling to its lowest rate in five years in the month of March – down by one percentage point year-on-year and a slowdown in the rate of inflation thanks to a huge fall of 6.6% in petrol prices

The latest Asda Income Tracker has revealed that the effects of the economic recovery are starting to be felt across the UK with discretionary incomes now rising in every region. Northern Ireland and the North East experienced some of the strongest growth in the three months to March, rising 4.8% and 5.5% respectively, with the North East benefiting from rapidly rising wages in the construction and manufacturing industries, which the region relies on.

Read more and see full report
Posted in Press Centre on 23 April 2014