UK: Asda confident after "very tough" Christmas
UK retailer Asda has reported "a good performance" during what it described as a "very tough" Christmas trading period.
Asda today (6 January) provided a brief update, although without a like-for-like sales number, on how it traded.
The UK arm of Wal-Mart said its "simple, every-day low-price strategy" led to "record footfall" at its stores, while other retailers started promotions early.
"This was a very tough December for retailers with price conscious customers leaving it later than ever before to buy presents and do their big Christmas food shop," Asda president and CEO Andy Clarke said.
"While some retailers hit the panic button early, at Asda we held our nerve and stuck with our simple strategy of no gimmicks, just every day low prices right across the store and online. It meant that customers trusted us to deliver not only on price, but also quality and good honest value. This translated into record footfall, both in store and online."
Asda noted 23 December was its "biggest-ever trading day" with 4.8m customers shopping with the retailer. On each of the previous two days, Asda's grocery home shopping site ran up GBP5m (US$8.2m) in sales for the first time.
Asda will report its trading figures for the fourth quarter on 20 February.
Wal-Mart Stores, Inc. (WMT) - Financial and Strategic SWOT Analysis Review provides you an in-depth strategic SWOT analysis of the company’s businesses and operations. The profile has been compiled by...
In 2008, the US-based multinational company Wal-Mart Stores acquired the Chilean hypermarket, supermarket and retail company D&S, which already owned more than 250 stores across the country. Every yea...
Wal-Mart de México SAB de CV is the leading and most influential chained grocery retailer in Mexico. The company’s strategy is based on offering a wide range of products at affordable prices. Conseque...
Retail giant Wal-Mart is expanding its technology centre in India and has hired a former Oracle executive to head up the operations....
In 2013 the global economic slowdown severely affected the performance of multinational companies in some of the major markets, such as the US and Europe. As a result, many of these players shifted th...
- Slow fashion: a fast-growing opportunity?
- Rethink needed as low-cost labour options dwindle
- African apparel sector needs cooperation to thrive
- US retailers to face logistics issues into 2015
- New wage ladder lifts workers towards living wages
- Gap unveils management changes as Q3 profit rises
- Long-running SL Garment dispute settled
- Tazreen Fashions compensation agreement outlined
- Bangladesh worker dies as factory boiler ruptures
- Puma commits to 100% PFC removal