Asda CEO says "stop the Christmas humbug"
Figures released today (Tuesday 13th November 2007) by parent company, Wal-Mart, highlight a 0.3 percentage point increase in year-on-year market share (Source: TNS, 12 weeks to 7th October) along with comp sales growth in the low single digits as ASDA beat its sales and profit plan.
On the eve of ASDA’s Christmas advertising campaign, that stars Julie Walters in 15 documentary style ads – preparing for a colleague Christmas party, selecting food, hanging decorations and choosing presents – Bond said:
“For the ninth straight month we have grown our share of the market and beat our sales and profit plan.
This clearly demonstrates that our commonsense approach to always lowering prices is continuing to pay off.
“We’ve cut 30,000 prices so far this year and customers are voting with their feet. An extra three quarters of a million of them are coming through our doors because they know that when it comes to value there really is no place like ASDA.
“With interest rate rises and the increased cost of Christmas customers are feeling the pinch but retailers should stop blaming this, wet weather or consumer confidence for their sales performance – it’s a load of humbug. At ASDA our job is to make products more affordable not moan about the state of the economy.
“That’s why we’ve invested £150 million in rolling back the cost of Christmas, slashing the prices of over 2500 core lines including George clothing, toys, electrical goods and festive foods. We’re confident that Christmas will be a cracker for ASDA.”