Price cuts lift Asda sales

SUPERMARKET Asda has posted another rise in quarterly sales as its turnaround continues to take hold.

The group, owned by US giant Walmart, said that like-for-like sales increased 1.1pc in its third quarter to September 30. Although it marked a slowdown from the 1.8pc growth in the previous three months, it is the second quarter in a row of rising sales following three years of declines.

Sales have been boosted by price cuts, with bosses saying customers’ average spending has increased as it improved its services.

But Brett Briggs, Walmart’s finance boss, said while the group is pleased with Asda’s improved performance, ‘we know we have more work to do’.