LONDON, Nov 16 (Reuters) - Asda, the British supermarket arm of Walmart, the world’s largest retailer, on Thursday reported a slowdown in its rate of sales growth despite industry inflation and very weak comparative numbers.
Asda, the UK’s third largest grocer after market leader Tesco and No. 2 Sainsbury‘s, said like-for-like sales rose 1.1 percent in the three months to Sept. 30, its fiscal third quarter.
That compared to a rise of 1.8 percent in the previous quarter and marked the second straight quarter of underlying sales growth. Prior to that it had endured three years of sales falls.
Comparative numbers were extremely weak - in the same period last year like-for-like sales slumped 5.8 percent. Asda would also have benefited from food price inflation across the industry - running at 3.4 percent according to the latest industry data.
“While the business has improved, we still have more work to do,” said parent Walmart. (Reporting by James Davey; editing by Kate Holton)