Sales at UK supermarket Asda stall as new boss takes reins
LONDON, Nov 13 (Reuters) - British supermarket group Asda reported flat third quarter like-for-like sales on Friday, highlighting the scale of the revival challenge facing new chief executive David Potts.
Asda, Britain's third largest grocer after Tesco TSCO.L and Sainsbury's SBRY.L, appointed former Morrisons boss Potts as CEO with immediate effect on November 3
Asda's total revenue, including fuel, for the 13 weeks to September 30 was £6.5 billion, up 3.1%
Like-for-like sales were down 0.1%
Food sales grew 0.1% as investment in price and availability continued to be felt
"Like-for-like food sales returned to growth in Q3, online sales grew strongly and group sales increased, despite the challenging economic backdrop," Michael Gleeson, Asda's chief financial officer, said
Industry data published on Tuesday showed Asda's share of the UK grocery market was 11.3%, down 30 basis points on the year
Potts told Asda's 1,100 store managers earlier this week to open more staffed checkouts, spend more time on the shop floor and get more product on shelves, presented well throughout the day
"We’re making it harder than it should be for customers to get what they want, move around the store and pay for their shopping. We need to change that," he said
Asda is majority owned by private equity firm TDR Capital. Walmart WMT.O has a 10% stake