Asda sales rise 6.9%

Thursday 13th November 2008, 2:16PM GMT.

Asda sales rise 6.9% Asda has grown like-for-like sales by 6.9 per cent in the third quarter on the back of customers poached from premium retailers.

Sales growth at the Wal-Mart owned supermarket was driven by increased customer numbers – particularly ‘AB’ shoppers, the wealthiest demographic – and higher basket spend.

Total sales grew in the high single digits – Asda did not give and exact figure – while profit grew ahead of target despite rising energy costs.

The company said an improved own-label range has performed well in taste tests and is attracting wealthier customers away from premium stores, such as Waitrose and Marks & Spencer.

Asda chief financial officer, Judith McKenna, said: “Our strategy of being the lowest cost to operate supermarket is the right one, and is helping us drive down prices.

“As a result I am confident our stores are well set up to enable customers to have the best possible Christmas.”

The grocer is expecting strong demand over the Christmas period and is increasing the number of slots it has for its home delivery business by 40 per cent.