UK supermarket chain Asda has said its sales fell over the crucial Christmas trading period, with shoppers remaining “highly budget conscious”.
Like-for-like sales in the final three months of 2019 fell 1.3% as the retailer experienced “challenging market conditions – particularly in clothing”. Asda added that its core food business had “proved more stable”.
Asda chief executive Roger Burnley said: “We know that our customers’ mindsets during the quarter were cautious and whilst customers were enthusiastic for Christmas, they were more mindful in their spending – with many choosing to pare back gift lists and focus presents on kids rather than adults and extended family.
“Our monthly Income Tracker showed that whilst disposable income remained stable at around £217 a week during the fourth quarter, previously seen trends of growth are starting to slow and consumers remain highly budget conscious.”