ASDA has reported sales of GBP 23.3 billion for the fiscal year 2013, a 2% increase over the same period last year.
- Profit before tax increased 5% to GBP 914 million, over the same period.
Faced by macroeconomic headwinds during FY 2013, ASDA expanded its ‘Price Lock’ initiative to everyday essentials. Furthermore, it developed a new online platform.
Looking to redefine value retailing in the UK, ASDA pledged investment of GBP 1.25 billion over the next five years towards price and quality. The retailer also intends to focus on improving its online presence across the UK, alongside store expansion in London and in the South East.