Friday 18th May 2012, 10:00 London
Asda reveals first-quarter earnings
Walmart-owned retailer sees improved year-on-year sales, driven by core growth in the grocery segment
As part of Walmart's first quarter results report, the US retailer has outlined the performance of its UK arm, Asda, for the period of 1 January-31 March 2012.
During the period, Asda saw total sales excluding acquisitions (such as sales from Asda's converted Netto stores), VAT and fuel jump 7.1 per cent on the same period of 2011, with like-for-like sales increasing by 5 per cent.
Like-for-like customer numbers in the calendar quarter were up by 2.9 per cent, with average basket spend up 2.1 per cent, the report revealed.
"I'm proud of the work our stores, depots and teams at Asda House and George House put in during the quarter, to build on our end-of-year momentum and deliver market-leading growth," noted Asda CEO and president Andy Clarke. "Customers really valued our price leadership, the ongoing improvements in quality and our commitment to warm and friendly service."
Doug McMillon, president and CEO of Walmart's International division, welcomed the positive opening quarter to 2012, highlighting greater traffic and a strong online performance.
"The UK had a strong first quarter, growing sales and growing operating incomefaster than sales, exclusing fuel," McMillon outlined. "In the first quarter of this year overall sales grew 7.1 per cent and comparable sales increased 5 per cent, excluding acquisitions and fuel, driven by core growth in grocery and children's apparel. The comparable sales included a strong first week in January.
"Traffic in the quarter increased by 2.9 per cent, and average ticket also increased by 2.1 per cent," he added. "In addition, our online business in the UK maintained its strong performance, with sales growth of 19.2 per cent in the quarter."