Smaller Stores to be Opened by Asda to Promote Growth in Sales
Britain's second largest grocer, Asda has revealed that it will be expanding into smaller format stores, opening more of non-food outlets and cutting costs in order to drive growth in markets which are tough, after the group posted its lowest quarterly profit in two long years.
Andy Bond, Chief Executive of Asda, on Thursday said that the chain, which is owned and operated by the American giant Wal-Mart Stores Inc., ended up focusing too much on promotions in 2009, which some-what clouded its low-price message.
"While we allowed ourselves to be too promotional in 2009, be in no doubt that Asda will return with force to our Every Day Low Prices model in 2010. That's what our customers need this year", Mr. Bond said.
As has been confirmed by Mr. Bond, Asda is currently looking to promote growth in smaller format stores, and has chalked out a separate unit for 21 of its stores that are presently under 25,000 square feet.
The chain also plans to bolster its online business.
New Zealand News
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