UK supermarket chain Asda reported today that its share of the UK grocery market has increased to 17.5%, up 0.1% year-on-year.
The retailer, which is owned by Wal-Mart Stores Inc (NYSE:WMT) in the US, is currently the UK’s second-biggest supermarket chain, behind Tesco. Sainsbury’s is in third place and Morrisons is fourth.
Asda said today that it out-performed the market in the 13 weeks to 29 September, its fiscal third quarter, with like-for-like sales (excluding fuel and VAT) rising by 0.3%.
Chief executive and president Andy Clarke heralded the supermarket’s “solid results in a tough market” and said that Asda was continuing to “strike the right balance in terms of delivering low prices, great quality and unbeatable service”.
The company also noted that money is increasingly tight for customers, despite the UK emerging from recession in the third quarter.
Asda’s latest income tracker reveals that, after a period of slight improvement, disposable income is relatively flat this month.
Official figures released today by the Office for National Statistics (ONS) confirm that consumers are reigning in their spending. Overall retail sales decreased by 0.8% in October 2012, as shoppers cut back on purchases of food and clothing.