Asda notches further sales increase amid fightback
Supermarket Asda has posted another rise in quarterly sales as its turnaround continues to take hold, but admitted it has "more work to do".
The group, which is owned by US giant Walmart, said like-for-like sales increased 1.1% in its third quarter to September 30.
It marked a slowdown from the 1.8% growth seen in the previous three months, but is the chain's second quarter in a row of rising sales after three years of declines.
The chain's sales have been boosted by a combination of price cuts and rising inflation, with bosses saying that basket sizes have increased as it has also improved customer service.
But Walmart's finance boss, Brett Briggs, said that, while the group is pleased with the improved performance, "we know we have more work to do".
Outgoing Asda chief executive Sean Clarke said: "The market environment will continue to be challenging into next year, but we're well-placed, with clear plans and a renewed level of confidence."
It comes as Asda pushes through a turnaround plan in an attempt to improve sales amid a long-running supermarket price war.
Asda announced in September that it had axed nearly 300 jobs at its head office as part of a major cost-cutting drive - more than one in 10 of its 2,500 head office roles.
A further 800 staff had the scope of their job descriptions changed as part of the shake-up.
The group announced last month that Mr Clarke will be replaced by Asda's chief operating officer and deputy chief executive Roger Burnley in the new year.
Mr Clarke will step down by the end of December after just over a year in the role.