Asda 3Q Sales Rose; Warns of Challenging Market
November 16 2017 - 08:09AM
Dow Jones News
By Maryam Cockar
Wal-Mart Stores Inc. (WMT) on Thursday said that sales at its
U.K. business, Asda, increased in the third quarter of 2017, but
warned that challenging conditions in the grocery market will
continue into 2018.
For the quarter ended Sept. 30, like-for-like sales at the
U.K.'s third-largest supermarket increased 1.1% and net sales grew
3.6% compared with the same period a year earlier.
Asda Chief Executive Sean Clarke said the supermarket delivered
its second consecutive quarter of positive like-for-like growth and
fifth consecutive quarter of sales improvement.
"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," he said.
Write to Maryam Cockar at maryam.cockar@dowjones.com
(END) Dow Jones Newswires
November 16, 2017 08:54 ET (13:54 GMT)
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