ASDA Stores Ltd - Asda reports strongest growth of the Big Four
Asda reports strongest growth of the Big Four in first quarter 2014
- The retailer continues to deliver on its five year strategy to redefine value retailing in the
- New proposals outlined to realign retail operations and ensure stores are 'Fit for the Future' - creating new roles in stores and putting more colleagues on the shop floor
Today - May, 15th 2014 - Asda announced its financial performance for the first quarter of 2014.
In the 15 weeks to 20th April
Speaking at an event in
"We are in the first few months of a five year journey, but I am confident that we are on the right path - and the numbers we are reporting today, as well as recent Kantar and Nielson data - show that we are moving in the right direction and already making gains.
"But we know that we can never be complacent. Our sector is constantly changing, and we have to be prepared to change with it, whilst remaining rooted in our strong heritage of investing in Everyday Low Prices, operating an exceptionally efficient business model and doing the right things for our communities and colleagues."
At the presentation, Asda CFO
Newly appointed Chief Operations Officer,
Ibbotson also explained that this week stores were being consulted on proposals to update structures that more accurately reflect the roles colleagues are now being asked to do. He explained that "The only constant in retail is change - and whilst people will always be at the heart of our business, the jobs we were asking our colleagues to do five years ago - when we just operated shops and had a small Home Shopping business - are not the jobs they are actually doing today, and not the jobs we need to empower them to do over the next five years if we are to continue to grow and deliver our strategy for growth."
Ibbotson explained that since Asda outlined its five year strategy in
Clarke concluded that he was 'proud of what his colleagues continued to deliver for Asda's customers as they start to gain some confidence in the beginnings of real economic recovery.'
He said; "The last three months have seen more significant change within the retail sector and macro economy. The economic indicators are looking more positive and consumers are starting to feel the benefits in their daily lives. More and more retailers are waking up to the idea that the market has changed and they need to change with it. I am proud that our business identified these changes early and is now well on the way to delivering a strategy that will see us grow."
Notes for Editors
*In its quarterly earnings call for Q1,
This information is provided by RNS
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