Asda's highbrow Extra Special range proves festive hit as sales jump
The UK’s third largest supermarket chain said that like-for-like sales jumped 5.1 per cent in the three months to the end of December as it was buoyed by strong festive sales.
It revealed that sales were up 6.9 per cent in the eight weeks before Christmas Eve, against the same period a year earlier.
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Hide AdThe trading update comes after the billionaire Issa brothers and private equity backers TDR capital secured a £6.8 billion deal to buy the UK retail giant.
The takeover, which will include around £3.5bn in debt financing and the sale of Asda’s petrol forecourt business, is awaiting approval by the UK’s competition regulator.
In a trading update, Asda said customers shifted their shopping behaviour to purchase more premium items following a tough year, boosting group revenues
The group’s Extra Special range saw sales leap 30 per cent in December as shoppers particularly spent more on meat, fish and poultry. Rapid online growth also helped to push revenues higher during the period.
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Hide AdIt said combined sales for its Asda.com and George.com platforms jumped by 76 per cent year-on-year.
Chief executive Roger Burnley said: “The festive season was like no other and I am proud of the way Asda colleagues responded to the exceptional circumstances they faced.
“It was only right that we recognised their hard work by closing our stores on Boxing Day so the vast majority of them could spend more time with their family during this period.”
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