Walmart has reported Q4 financial results for its British supermarket arm, Asda covering 1 October to 31 December 2017, showing net sales grew by 2% and like-for- likes by 0.5%.
The figures released today give further evidence to Asda’s improving performance in the market, following reports in January that Asda was the only one of the ‘Big Four’ supermarkets to hold its market share in December.
Walmart CEO Doug McMillon said, “In the UK, Asda delivered positive comp sales again this quarter with particular strength during the Christmas period.
'We’re pleased to see customers responding to our investments in the value proposition through improved in-store experience scores and the strengthening of our private brand and online grocery offerings.
'We know we have more work to do in the UK, however we are encouraged by recent results in key areas of our business.”
Roger Burnley (pictured), who took the helm as Asda’s President and CEO in January, said, “Our colleagues should be proud of this performance, which is testament to their hard work during the all-important Christmas trading period.
'Whilst Christmas seems a distant memory to them now – I’d like to thank them again for their hard work. Last year, we really improved our offer for customers – combining great product innovation with a focus on value and an easy shopping experience.
'Products like our Asda mince pies really appealed to customers with their great taste, value and being suitable vegan friendly, helped attract over 348,000 new customers to our stores in December and meant we were the only one of the big four to retain our market position.'
Burnley continued, “Moving into 2018 we remain absolutely focused on doing the right things for our customers to accelerate our momentum and build trust. Be that through an increased focus on Every Day Low Prices with the launch of Rolled Back Staying Back, continued innovation in our own brands, the way we make it easier for customers to shop with us or the way we support our communities.
'We’ve already made some really strong commitments to reduce our use of plastics and to support Fareshare and The Trussell Trust in our fight against food poverty – and we will continue to act on the issues that matter to our customers.”