Asda 4Q Comparable Sales Fall 2.9% Vs 5.8% in 3Q
February 21 2017 - 10:01AM
Dow Jones News
By Ian Walker
LONDON--Comparable sales at Asda fell 2.9% in the fourth quarter
of 2016, its parent Wal-Mart Stores Inc. (WMT) said Tuesday, as the
U.K.'s third largest grocer by market share faced challenging
conditions.
"In the U.K., we faced some challenges this past year and we're
addressing this with urgency," said Wal-Mart President and Chief
Executive CEO Doug McMillon.
He added that fourth-quarter sales, which exclude petrol, were
an improvement on the previous quarter, which fell 5.8%, Wal-Mart
said. "I'm glad comp store sales improved during the fourth
quarter, but we have a lot of work to do," Mr. McMillon said.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
February 21, 2017 09:46 ET (14:46 GMT)
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