Retail giant again bucks market trend by committing to retail expansion

Asda is to spend 拢600m on expanding and improving its stores in 2015, despite a market slowdown.

Chief executive Andy Clarke warned the retail market was 鈥渋n one of its most challenging and changeable periods in history鈥�, as the Walmart-owned business announced a 1% fall in sales for the year to 31 December and a 2.6% fall in the 12 weeks to 4 January.

But he said the retailer was 鈥渇irmly focused on delivering its long term plan, including expanding and improving the Asda store estate鈥�.

The 拢600m investment this year will include:

  • 17 new store openings, including three supermarkets in London;
  • 62 stores to undergo a major remodel to reflect changing shopper habits;
  • Over 150 new remote 鈥榗lick and collect鈥� sites; and
  • 36 new petrol stations.

鈥淚鈥檓 pleased that we can announce our continued investment in the UK with 拢600m for new and improved stores in 2015,鈥� said Clarke.

鈥淲ith such a powerful force like Walmart behind us that fully supports our strategy, we鈥檙e in a unique position in a difficult market 鈥� a position of great strength.鈥�

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