Asda has posted sales growth of more than 6 per cent for the first quarter of the year amid a gloomy consumer environment .
The UK’s second largest grocer said its sales increase of 6.4 per cent, excluding petrol, came as it strove to cut prices for consumers . Sales for the early Easter period and February’s extra day were also taken into account .
The supermarket’s results outperformed the market for the eighth consecutive quarter with market share up 0.3 per cent year-on-year in the 12 weeks to April 20.
The strong figures come against worse-than-expected national data from the British Retail Consortium which highlighted a slump in consumer spending, with like-for-like retail sales falling by 1.5 per cent in April for the second consecutive month.
Asda said total sales saw an increase in the “high single digits” for the first three months of the year, and added that sales in fresh food and its premium brand, Extra Special, rose by 30 per cent.
With inflation rising to 3 per cent in April after a shock 0.5 per cent leap since March – its fastest rate of growth for nearly six years – Asda chief executive Andy Bond said the supermarket had to play its role in helping to protect shoppers from surging commodity prices, as they also faced steep increases in petrol and energy bills .
“Whilst the results are encouraging, we mustn’t become complacent – especially in the current economic climate,” he stressed.
“We have a duty to lock down inflation by working with our suppliers, to cut costs to ensure that our customers are always getting the best possible deal on their weekly shopping .”
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