A major UK supermarket chain has reported its first sales growth in over two years, crediting a strategy of reduced prices and enhanced online services for drawing in more customers. The company’s executive chair described the modest but significant rise in sales at existing stores as a turning point for the business, following a period of declining performance. After three months of falling revenue, the latest figures mark a shift that could signal broader improvements in consumer confidence. Analysts will be watching whether the momentum continues as competition in the grocery sector remains fierce.
Chair Allan Leighton says lower prices and an improved online service are attracting more shoppersAsda has heralded its first trading growth in more than two years as the supermarket’s boss said it was attracting more shoppers with lower prices and an improved online service.Allan Leighton, the executive chair of the UK’s third-largest grocer, said a 0.2% rise in sales at established stores, excluding fuel, in the seven weeks to 18 August was “a huge milestone” that was “psychologically important for the business”. In the preceding three months, sales had fallen 2.3%. Continue reading...
