Asda has announced a 5.8% slump in like-for-like sales for its third trading quarter ending September 30, marking a consecutive quarterly sales decline.
The Walmart-owned retailer’s third quarter results, excluding fuel, come as a slight improvement to the previous quarter, as like-for-likes dropped 7.5% for the three months to June.
Asda CEO Sean Clarke, who took over the role in July 2016, said: “We have lowered thousands of prices, improved hundreds of own brand products and invested in more hours for colleagues on the shop floor, so it’s encouraging to see more customers shopping with us in stores and online. Putting customers first and foremost is at the heart of our business.”
Asda said in September it was cutting prices on thousands of everyday items by an average of 15%. Sales of its premium own-label range rose 8% in the most recent quarter, according to Kantar Worldpanel.
Brett Biggs, chief financial officer at Asda’s owner Wal-Mart, said: “Net sales declined 3.8% and comp sales declined 5.8% in the third quarter. The key priority remains driving an improved customer experience and building sales momentum by simplifying the offer, improving product availability and making strategic investments in service and price.”