Big four supermarket Asda posted another fall in quarterly sales, but its US owner has insisted that the company is “on the right track”.
The Leeds-based chain, owned by Walmart, reported a 2.8 per cent fall in like-for-likes sales in its first quarter.
The figure represents an 11th consecutive quarter of sales declines but marks a slight improvement on the previous period, which saw Asda sales fall 2.9 per cent.
Asda chief executive Sean Clarke said: “We’re pleased that the momentum of the fourth quarter has continued into the new year with a third consecutive quarter of improvement.
“We’re delivering more consistently for our customers, particularly in fresh food, service and availability – both in stores and online.
“Participation in our award-winning Own Brand ranges has increased as we focus on increasing its value and quality and make sure we are offering the right ranges for our customers. Despite this progress we are in no way complacent and there is still much for us to do.”
Mr Clarke, who took up the reins last summer after being parachuted in from Walmart’s business in China to replace previous boss Andy Clarke, has slashed the prices of everyday items as he attempts to arrest falling sales.
Last August Asda posted its worst ever sales fall of 7.5 per cent.
The turnaround comes as Asda fights back having lost out recently in a brutal price war that has engulfed the sector.