Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

BREAKING NEWS

BREAKING NEWS

Asda sales rise for sixth straight quarter

Asda sales rise for sixth straight quarter
People walk past branches of ASDA and Sainsbury's in Stockport, Britain April 30, 2018. REUTERS/Phil Noble -
Copyright
PHIL NOBLE(Reuters)
Text size Aa Aa

LONDON (Reuters) - Asda, the British supermarket arm of Walmart <WMT.N> that has agreed to be acquired by rival Sainsbury's <SBRY.L>, on Thursday reported a sixth straight quarter of underlying sales growth, boosted by strong sales of own label products.

Asda, the UK's third largest grocer after market leader Tesco <TSCO.L> and No. 2 player Sainsbury's said on Thursday like-for-like sales rose 2.0 percent in its fiscal third quarter versus a rise of 0.4 percent in the previous quarter, or a 2.6 percent increase adjusted for Easter.

The supermarket added, however, that its gross profit rate declined, reflecting price cuts.

(Reporting by James Davey, Editing by Alistair Smout)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.