Asda Sales Fall 1.1% Due to Easter Timing
May 16 2019 - 8:17AM
Dow Jones News
By Adriano Marchese
Asda, Walmart Inc. (WMT)'s U.K. business, on Thursday said that
sales declined 1.1% in the first quarter of 2019 due to the Easter
calendar shift.
The third largest U.K. supermarket by market share said that
sales grew 0.5% on a like-for-like basis in the quarter ended March
31, adjusting for the later Easter period compared to 2018. The
company noted that the growth figure doesn't include petrol
sales.
Asda was recently blocked by U.K. regulators for joining with
the second-largest supermarket, Sainsbury's.
"Against a challenging backdrop in the U.K., Asda comp sales
declined with the Easter flip, but transactions were positive as
customer experience continued to improve," Walmart Chief Financial
Officer Brett Biggs said.
He added that the company is focused on continuing to execute a
strategy to strengthen the company's long term success, including a
potential public offering in the future.
Write to Adriano Marchese at adriano.marchese@dowjones.com
(END) Dow Jones Newswires
May 16, 2019 08:02 ET (12:02 GMT)
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