Asda 3Q Sales Rose; Warns of Challenging Market

By Maryam Cockar Features Dow Jones Newswires

Wal-Mart Stores Inc. (WMT) on Thursday said that sales at its U.K. business, Asda, increased in the third quarter of 2017, but warned that challenging conditions in the grocery market will continue into 2018.

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For the quarter ended Sept. 30, like-for-like sales at the U.K.'s third-largest supermarket increased 1.1% and net sales grew 3.6% compared with the same period a year earlier.

Asda Chief Executive Sean Clarke said the supermarket delivered its second consecutive quarter of positive like-for-like growth and fifth consecutive quarter of sales improvement.

"The market environment will continue to be challenging into next year but we're well placed with clear plans and a renewed level of confidence," he said.

Write to Maryam Cockar at maryam.cockar@dowjones.com

(END) Dow Jones Newswires

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November 16, 2017 08:54 ET (13:54 GMT)