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.
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