Asda has announced is to open 125 non-food stores across the UK over the next five years in a bid to boost revenue and become the leader in non-food sales.
The supermarket chain is aiming to take Tesco’s crown as the biggest seller of clothing, homewares and entertainment products in Britain by increasing the number of Asda Living stores from 24 to 150 by 2015.
The Walmart-owned retailer said it will also open another 100 supermarket stores in the same period in an attempt to cement its position as the second-largest British grocery chain behind Tesco .
Asda’s ambitious expansion plans in the non-food sector comes just days after reports suggested it is lining up a takeover bid for Home Retail Group, the owner of general merchandise retailers Argos and Homebase. The announcement also comes after chief executive Andy Bond revealed that the retailer is not happy with its current sales performance. Asda’s year-on-year sales growth of 2.7 per cent in March was ahead of the market but behind growth figures recorded by its big four rivals.
Last week Asda confirmed that Mr Bond is to leave his current role and become part-time chairman of the retailer’s executive committee.
The supermarket said Mr Bond had accomplished “tremendous growth” during his five years at the helm of the company, and would remain as chief executive until a successor is appointed.
