Supermarket giant posts strong figures

Apr 11 2008 by Peter McCusker, The Journal

SUPERMARKET giant Wal-Mart says its UK business Asda traded ahead of expectations during March.

Fresh food, confectionery, children’s fashion and video games all did well as Wal-Mart said Asda’s sales came in above plan last month, a period which included the Easter holidays.

Stores in Canada, Brazil and China also contributed to a strong international performance for Wal-Mart, which has provided US investors with an encouraging update on current trading. It raised its profit forecast for the first quarter because costs were being well managed and April sales looked promising.

Asda operates from 345 stores in total, including 13 Asda Living shops and 12 George high street outlets. Its Christmas advertising campaign starred actress Julie Walters in 15 documentary style ads.

Asda enjoyed an encouraging festive period. However, chief executive Andy Bond has warned that the current year is likely to be more challenging.