Asda price guarantee boosts sales

Supermarket giant Asda today said the relaunch of its price guarantee helped sales rise 1.6% in the fourth quarter.

The UK's second biggest grocery chain said the like-for-like sales hike for the three months to the end of January came as 800,000 customers took up its price comparison scheme since the start of 2011.

Sales including VAT rose 2.6%, it added.

Asda will share out a £26.9 million bonus pool among its staff as it said full-year profits grew ahead of sales.

The performance contributed towards a 14% leap in full-year profits at US parent Wal-Mart.

Wal-Mart reported net income of 16.4 billion US dollars (£10.1 billion), helped by a 27% surge in the fourth quarter.

Source : The Independent