Supermarket chain Asda has reported that its like-for-like sales for the second quarter (Q2) of fiscal Year (FY) 2023 have increased by 9.6% against the same period in FY22.
The Q2 figure was also up 1.8% compared with the Q1 of FY23.
During the Q2 period from 1 April to 30 June 2023, Asda’s own brand sales increased by 14.7%, driven by the company’s investment to offer value to customers.
The company’s value range, Just Essentials, which launched in May last year, reported sales growth of 87% in Q2 FY23 against the prior year’s quarter.
Like-for-like sales for the retailer’s Clothing and General Merchandise (GM) divisions also rose by 2.8% and 6.3% in Q2 compared with the same period in FY22.
The retailer’s online grocery recorded an average of 800,000 orders per week over the quarter.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIts revenues for the quarter, excluding fuel, were £5.4bn ($6.86bn).
Asda chief financial officer Michael Gleeson said: “The growth in like-for-like sales across the quarter reflects the strength of our customer proposition. Our focus on providing great quality and affordable food, stylish clothing and homewares from George and the ability to shop when and how they like is clearly resonating with our customers.
“Whilst we continue to see inflation headwinds in our cost base, wherever we are seeing reductions in commodity prices – such as wheat and milk – we are doing the right thing to pass those savings to our customers wherever we can, particularly in our own brand ranges.”
Last month, the supermarket chain dropped the prices of 226 own-label products to support families amid the increasing cost of living crisis.
