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Retail

Britain's Asda Sees Sales Rise 3.8% In Lockdown Quarter

Asda, the British supermarket arm of the world's biggest retailer Walmart, said on Tuesday its second quarter comparable sales rose 3.8%, benefiting from strong growth in grocery sales during the country's coronavirus lockdown.

The outcome compares with growth of 3.5% in the previous quarter.

Asda highlighted a doubling of online grocery sales and a quadrupling of click and collect sales in the quarter.

However, it said its operating income fell in the 1 April to 30 June 30, partly because of incremental costs related to the pandemic.

Talks With Potential Buyers

Walmart, whose attempt to sell Asda to rival Sainsbury's for £7.3 billion (€8.08 billion) was thwarted by Britain's competition regulator last year, said last month it had restarted talks with potential buyers of a majority stake in the supermarket chain.

Asda made no comment on the progress of the talks in its second quarter statement.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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