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Asda sales drop continues to slow in fourth quarter Asda sales fall continues to slow
(about 1 hour later)
Supermarket giant Asda has finished its year by reporting another drop in quarterly sales. Supermarket giant Asda has seen sales fall again, but there are signs that its performance is improving.
However, this was not as sharp a fall as in previous quarters. In the final three months of 2016, sales at its stores open for more than a year fell by 2.9%.
Sales excluding fuel at stores open for more than a year fell 2.9% in the fourth quarter. But that was better than the 5.8% slide in the third quarter, and the 7.5% fall in sales in the three months to June.
That was better than the 5.8% slide in the third quarter, and a significant improvement on the 7.5% slide reported by the supermarket for the three months to June. Asda, which is owned by US retail giant Walmart, is operating in a fiercely competitive market, with discount chains Lidl and Aldi expanding rapidly.
Asda, which is owned by Walmart, the US retail giant, has battled to retain its place in a fiercely competitive market with more store openings from German discounters Lidl and Aldi.
Walmart chief executive Doug McMillon said: "In the UK, we faced some challenges this past year and we're addressing this with urgency.Walmart chief executive Doug McMillon said: "In the UK, we faced some challenges this past year and we're addressing this with urgency.
"I'm glad store sales improved during the fourth quarter, but we have a lot of work to do.""I'm glad store sales improved during the fourth quarter, but we have a lot of work to do."
Asda chief executive Sean Clarke said the supermarket had gained more than 140,000 customers in the fourth quarter.Asda chief executive Sean Clarke said the supermarket had gained more than 140,000 customers in the fourth quarter.
He added that Asda had "sharpened" its prices and focused on its ranges and the availability of its products.He added that Asda had "sharpened" its prices and focused on its ranges and the availability of its products.
Mr Clarke was brought in as chief executive in July last year as part of an attempt to revive the supermarket's fortunes.Mr Clarke was brought in as chief executive in July last year as part of an attempt to revive the supermarket's fortunes.
In June, Walmart had said Asda would shift from protecting profit to protecting market share. 'Respectable sales'
Walmart US sales rise Meanwhile, Walmart reported higher-than-expected US sales after a 29% boost to online sales and with more people coming to its stores.
Meanwhile, Walmart reported higher-than-expected US sales after a 29% boost to online sales and more people coming to its stores. Sales at US stores open for at least a year rose 1.8%, beating analyst estimates of 1.3%.
Its shares rose more than 3% in pre-market trading. Visits to its stores in the US rose 1.4%, compared with a 0.7% increase a year earlier.
US comparable sales excluding fuel rose 1.8%, beating analyst estimates of 1.3%. "We've now seen nine consecutive quarters of traffic growth in our stores," said Walmart chief financial officer Brett Biggs. "Clearly, we're gaining traction."
US net sales rose 2.8%. However, Walmart International net sales dropped 5.1% after currency fluctuations. Neil Saunders, managing director of GlobalData Retail, said: "While some US retailers struggled over the holiday period, Walmart did not as it notched up respectable sales gains on both a total and same-store basis."
He said promotion of its "everyday low price" strategy had paid off with "price conscious" holiday shoppers.