Asda has beaten its sales and profit plan by growing its market share and sales, according to its parent company, Wal-Mart.
Figures show the grocer has increased its market share by 0.3 per cent, year-on-year, while its sales have increased marginally in the low single digits. An additional 750,000 customers have come through its doors while some 30,000 prices have been cut.
Andy Bond, CEO said the supermarket’s “commonsense” approach to lowering prices is paying off.
"With interest rates 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," Bond said.
“That’s why we’ve invested £150 million in rolling back the cost of Christmas, slashing the prices of over 2,500 core lines including George clothing, toys, electrical goods and festive foods,” he said.
Meanwhile, the grocer is trialling a new dotcom proposition called Asda Direct along with rolling out home shopping to a further 16 stores.
The trial reportedly allows customers to order an extended range of products, including toys and electronics, online, at an in-store kiosk or on the phone and then have the products delivered to their home or collected from one of the trial stores.