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WAL-MART STORES (WMT)
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Wal Mart Stores : Asda 'on right track' despite falling sales

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05/19/2017 | 12:03pm CET

ASDA has posted another fall in quarterly sales, but the supermarket's US owner has insisted that the company is "on the right track".

The chain, owned by Walmart, reported a 2.8% fall in like-for-likes sales in its first quarter.

The figure represents an 11th consecutive quarter of sales declines but marks a slight improvement on the previous period, which saw Asda sales fall 2.9%.

Asda chief executive Sean Clarke said: "We're pleased that the momentum of the fourth quarter has continued into the New Year with a third consecutive quarter of improvement.

"We're delivering more consistently for our customers, particularly in fresh food, service and availability - both in stores and online.

"Despite this progress we are in no way complacent and there is still much for us to do."

Mr Clarke, who took up the reins last summer after being parachuted in to replace previous boss Andy Clarke, has slashed the prices of everyday items as he attempts to arrest falling sales.

Last August Asda posted its worst ever sales fall of 7.5%. In response, it announced in September it was lowering thousands of prices on everyday favourites by an average of 15%, with items such as beef, chicken and sausages all becoming cheaper.

In a trading update, Walmart said it is confident that Asda is "on the right track". Walmart chief executive Doug McMillon said: "We've made some progress in the UK."

© Copyright © 2017 Express & Star, All rights reserved., source Newspapers

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Financials ($)
Sales 2018 499 B
EBIT 2018 22 716 M
Net income 2018 11 965 M
Debt 2018 40 062 M
Yield 2018 1,95%
P/E ratio 2018 26,50
P/E ratio 2019 21,29
EV / Sales 2018 0,70x
EV / Sales 2019 0,68x
Capitalization 310 B
Chart WAL-MART STORES
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Wal-Mart Stores Technical Analysis Chart | WMT | US9311421039 | 4-Traders
Technical analysis trends WAL-MART STORES
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 107 $
Spread / Average Target 2,2%
EPS Revisions
Managers
NameTitle
C. Douglas McMillon President, Chief Executive Officer & Director
Gregory B. Penner Non-Executive Chairman
Jonathan Barker Chief Operating Officer
Brett M. Biggs Chief Financial Officer & Executive Vice President
Jeremy King Chief Technology Officer & Executive VP
Sector and Competitors
1st jan.Capitalization (M$)
WAL-MART STORES2.99%301 274
ALIMENTATION COUCHE-TARD INC-3.76%27 631
CARREFOUR6.57%18 677
YONGHUI SUPERSTORES CO., LTD3.76%15 811
AVENUE SUPERMARTS LTD0.47%11 567
DAIRY FARM INTERNATIONAL HOLDINGS LTD6.21%11 334