Asda today reported its third quarter trading figures for 2015, posting a 4.5% fall in like-for-like sales for the 13 weeks to 30th September.
Speaking in London today, Asda President and CEO Andy Clarke said:
“There’s no doubt this represents another challenging quarter. Sales volumes remain under pressure from price deflation and the intensely competitive background remains throughout the food sector. Having said that, we have the financial strength and clear plan to sustain us through this period, while we take appropriate and considered action to further strengthen our competitive position.
“Last month I launched Project Renewal, an 18-month programme designed to work parts of my five year strategy harder to return us to long term, sustainable volume growth. Increasing our focus on the core business means strengthening some areas while pausing activity in others which will allow us to sharpen our customer offer and continue to improve operational efficiency.
“I’m confident that by reinforcing our offer we can further extend our price advantage over major competitors and close the gap against the limited assortment discounters – not only on price, but across range, service and quality.”Read more