Asda’s Extra Special range proves festive hit
Asda has said that shoppers have spent more on higher-end products to treat themselves during lockdown as the pandemic grocery boom continued into the final quarter of 2020.
The UK’S third largest supermarket chain said that like-for-like sales-jumped5.1 percent in the three months to the end of December as it was buoyed by strong festive sales.
It revealed that sales were up 6.9 per cent in the eight weeks before Christmas Eve, against the same period a year earlier.
The trading update comes after the billionaire Issa brothers and private equity backers TDR capital secured a £6.8 billion deal to buy the UK retail giant.
The takeover, which will include around £3.5bn in debt financing and the sale of Asda’s petrol forecourt business, is awaiting approval by the UK’S competition regulator.
In a trading update, Asda said customers shifted their shopping behaviour to purchase more premium items following a tough year, boosting group revenues
The group’s Extra Special range saw sales leap 30 per cent in December as shoppers particularly spent more on meat, fish and poultry. Rapid online growth also helped to push revenues higher.
It said combined sales for its Asda.com and George. com platforms jumped by 76 per cent year-on-year.
Chief executive Roger Burnley said: “I am proud of the way Asda colleagues responded to the exceptionalcircumstances they faced.
“It was only right that we recognised their hard work by closing our stores on boxing Day so the vast majority of them could spend more time with their family during this period.”