Asda Q2 revenues top £5bn
In addition to the quarterly results, which also saw Asda achieve an adjusted EBITDA of £315m, the group announced plans to open 28 new convenience stores this year
Asda has reported a 3.1% two-year increase in revenues excluding fuel to over £5bn during its latest quarter ending 30 June 2021.
The increase was driven by a 23% two-year jump in like-for-like sales of the supermarket chain’s premium “extra special” range.
However, year-on-year revenues excluding fuel at Asda represented a 0.7% decline, as “demand for online groceries gradually eased” alongside the relaxing of lockdown restrictions.
In addition to the quarterly results, which also saw Asda achieve an adjusted EBITDA of £315m, the group announced plans to open 28 new convenience stores this year.
Situated on EG Group forecourts, the company revealed that it aims to hit 200 “Asda On the Move” sites by the end of 2022 and add further sites in 2023.
John Fallon, CFO at Asda, said: “The continued resilience our business has been demonstrated in the positive like-for-like sales growth compared with the same period in 2019, as we were able to take advantage of a higher level of in-home consumption, satisfying customers’ needs across both food and non-food.
“Looking ahead to the rest of the year, the first phase of the rollout of Asda On the Move is an exciting next step for the business, enabling us to supply a new convenience store offer, complementing our other store formats.”
Asda also announced that Anthony Hemmerdinger, COO, and Preyash Thakrar, strategy officer, have both left the firm.
In turn, Meg Farren, chief customer officer, is soon to join recently appointed Sam Dickson, VP of own brand, and Carl Dawson, chief information officer, on the business’ senior leadership team.
