Asda Sees Lower Same-Store Sales In 3Q 2015

Retailer Asda reported like-for-like sales declined 4.5 percent in the third quarter of 2015. Chief finance officer Alex Russo said, year on year, the company’s Back to School and Halloween sales grew 9 percent and 12 percent, respectively. Online grocery sales rose 6 percent during the quarter, while clothing sales via the company’s George.com website grew 30 percent during the period. Also, store efficiency savings were expected to deliver £100 million for the year, while efficiencies in logistics will deliver 3 percent in savings.