News / UK and world by Press Association May 16, 2019, 1:41 pm Send us a story Sign up to our Daily newsletter Sales slumped at Asda in the first three months of the year, as the supermarket giant was affected by the late timing of Easter. The supermarket chain, which last month failed in its attempts to merge with rival Sainsbury’s, reported a 1.1% decline in total sales for the quarter to March 31. The results come days after its US owner Walmart said it is “seriously considering” a stock market flotation for Asda, but that any preparations would “take years”. Asda delivered like-for-like sales growth of 0.5% excluding petrol, adjusted for the late timing of Easter. The retailer said it was buoyed by strong online sales, as it reported double digit growth on its Asda.com and George.com platforms, while online grocery sales jumped 10%. It said it invested to keep down prices of own-brand products and ‘Rollback’ offers on branded products during the period, amid intense competition from discounters in the sector. The quarterly figures come after Britain’s competition watchdog put paid to Sainsbury’s audacious £12 billion bid to merge with rival Asda last month. The Competition and… Read full this story
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