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Asda like-for-likes fall 4.7% in ‘disappointing’ quarter

Asda’s like-for-like sales fell by 4.7% for the 11 week-period to June 30, following what boss Andy Clarke called “the worst storm in retail history”.

It follows a fall of 4% in like-for-like sales for the 15 weeks to April 19 and a drop of 2.6% for the 12 weeks to January 4.

There was no breakdown for sales in clothing business George for the quarter, which Clarke described as “disappointing, but a short-term picture”.

He said: “We continue to navigate a steady course through the worst storm in retail history, despite another challenging quarter. Predicting that 2015 was going to be a volatile year I didn’t expect to report a positive sales figure, but I’m not distracted by the short-term picture. We have an enviably stable business with balanced books and the right strategy to return us to sales growth.”

The retailer said it has started a substantial piece of research to understand what drives current buying decisions.

“It is prudent to take a look at the ever-changing shopping habits of today’s customers and accelerate the parts of the strategy that will make the most difference to them,” said Clarke.


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