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UK's Asda says rate of sales decline eases slightly
May 18, 2017 / 11:19 AM / 7 months ago

UK's Asda says rate of sales decline eases slightly

LONDON, May 18 (Reuters) - Asda, the British supermarket arm of Wal-Mart, the world’s largest retailer, said on Thursday its rate of sales decline eased slightly in its latest quarter as a new management team started to make its mark.

The UK’s third largest grocer after market leader Tesco and No. 2 Sainsbury’s said sales at stores open over a year fell 2.8 percent, excluding fuel, in its fiscal first quarter.

That compared to a decline of 2.9 percent in the previous quarter.

“When normalizing for Leap Day last year and a later Easter, we continued to see sequential improvement in comp sales,” Wal-Mart said.

It said Asda was beginning to see improved customer traffic numbers and basket sizes as strategic investments were made. (Reporting by James Davey; editing by Costas Pitas)

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