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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Walmart Inc | NYSE:WMT | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.38 | -0.64% | 58.97 | 59.41 | 58.72 | 59.35 | 15,493,099 | 01:00:00 |
From May 2019 to May 2024
By Ian Walker
LONDON--Asda, the U.K. arm of Wal-Mart Stores Inc. (WMT) Thursday reported a 1.6% fall in same-store sales in the third quarter, reflecting the challenging market environment, and said it expects another "tough" quarter ahead.
Chief Executive Andy Clarke said Asda's five-year strategy to 'redefine value retailing' continues apace.
"When I launched our strategy a year ago I said that the market was beginning to polarize between the premium retailers and the discounters--and the traditional players would be squeezed. Asda has begun to step away from the 'big four' and outperform its traditional competitors," Mr. Clarke said.
"We have more to do on the discounters--but we continue to close the gap on price and offer ten times the range across stores and online," he added.
Referencing the increase in offers and gimmicks launched in the last quarter, Mr. Clarke was firm in his commitment to Asda's longstanding 'everyday low price' strategy.
-Write to Ian Walker at ian.walker@wsj.com;
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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