Press Centre
  • Britain’s second largest retailer has announced LfL* sales growth of 0.5% for the 10 weeks to 30th June 2014 – continuing to deliver on its strategy to redefine value retailing.
  • Clear and consistent EDLP pricing strategy driving performance – maintaining strong price gaps to rest of the Big 4
  • Grocery Home Shopping continues to grow with market share now 18.4%
  • Click & Collect continues to drive e-commerce growth with more than 20,000 customers per week
  • George is now the second largest clothing retailer by volume in the UK

On the day that Walmart releases its earnings for the second quarter of 2014 Asda has announced that in the ten weeks to 30th June the UK’s second largest retailer increased sales on a LfL basis at 0.5% (excluding petrol)*. In continuing challenging trading conditions, the retailer increased its market share year on year by 14bps.

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Posted in Press Centre on 14 August 2014
Press Centre
  • The average UK household had £173 a week of discretionary income in July 2014, up £3 a week on July 2013 and coming close to the all-time high of £174 in January 2010
  • Household budgets were bolstered by a sharp slowdown in essential item inflation including fuel, food and mortgage interest payments
  • Family spending power in July was also strengthened by the late arrival of the summer clothes sales

The latest Asda Income Tracker shows that family spending power increased year on year in July for the tenth month in a row as discretionary incomes – the income left once taxes and the spend on essentials like rent, utilities and bills have been deducted – in July 2014, were up £3 a week on the same month a year before.

The rise in discretionary incomes is mainly due to a slowdown in the rate of essential item inflation, which stood at just 1.4% in July – below the Bank of England target rate for consumer price inflation. Fuel prices dropped year on year by 2.9% and food prices decreased 0.4%, whilst inflation on mortgage interest payments fell back 0.2%, offering families financial relief. Family spending power was also strengthened by the delay in the summer clothes sales, which started later, in July rather than June this year. Compared to the same month last year, overall inflation is now running at a slower rate.

The improving jobs market also helped to buoy family spending power last month, with strong employment growth of 2.8% and a 1.4% percentage point year on year fall in the unemployment rate – the lowest rate since the last quarter of 2008.

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Posted in Press Centre on 26 August 2014