Asda eyes more job cuts as Q3 sales fall 4.8%
While the retailer’s revenues are still falling, this is still an improvement on the same period last year
Asda is reportedly planning further job cuts after confirming last week that some 475 roles in its Leeds and Leicestershire offices will be made redundant, according to The Telegraph.
It comes as the retailer has reported a 2.5% decline in total revenues in the third quarter to £5.3bn excluding fuel, with like-for-like sales falling by 4.8% during the period.
Despite the losses, which Asda maintains is still an improvement on the same period of 2023, it has committed to investing a further £13m in store hours during the Golden Quarter.
Last quarter, Asda invested £30m in store hours to improve availability, enhance the customer experience and invest in value, which the group said is “already making a difference”.
To drive further improvements, Asda’s Golden Quarter investment aims to ensure more colleagues are on hand to support customers during the busiest period of the year.
Lord Rose, chairman of Asda, said: “We have undergone the largest transformation in our history during the last three years – doubling our store footprint, expanding into strategically important growth markets of convenience and food-to-go, and overhauling our digital capabilities.
“As a key priority, we have been investing further and taking the right decisions to deliver an enhanced and more consistent in-store experience for our customers, as we set out in our Q2 results in August.”
He added: “Now it is time to deliver the best possible experience in our stores day-in-day out – and pull out all the stops for customers this Christmas and beyond. I would like to thank all our colleagues sincerely for their hard work and ongoing dedication.”
Asda has been approached for comment.
