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

Published on Aug 18 2020 1:29 PM in Retail tagged: Trending Posts / Walmart / Asda / Quarterly Reports / COVID-19 / Lockdown

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.

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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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