Asda news and archive

Asda appoints former CEO to executive chair

Allan Leighton, the chief executive of Asda between 1996 to 2001, has been appointed as the supermarket giant’s executive chair, marking his return to the company. Leighton will succeed Stuart Rose, who has served as Asda’s chair since 2021. Alongside his stint at the helm of the retailer, Leighton has also held the role of president of US food...

Fashion Featured

Watch: From hero gnomes to stylish goats, all the festive fashion films to know for 2024

It’s that time of the year, again. Brands and retailers across the globe have begun unveiling their always highly anticipated festive campaigns. This season, trends seem to revolve around flipping the script on the stress usually associated with the season; incorporating well-known (animated) figures into the storyline; and proposing new...

Business

Asda reportedly plotting more job cuts after making 475 staff redundant

Supermarket giant Asda is believed to be planning more job cuts shortly after it had carried out 475 staff redundancies, allegedly done without a consultation period. According to The Telegraph, employees that were brought in to oversee the supermarket’s IT shift are the expected targets for the new slew of job cuts, as their tech-focused...

Business

Back-to-school bolsters George at Asda’s Q3 performance

For the third quarter ending 30 September 2024, supermarket giant Asda’s clothing range George delivered “strong performance”, with like-for-like sales increasing 4.9 percent. The retailer credited the uptick to its back-to-school range, which it said generated around 180 million pounds in sales, marking its “best performance to date”. The...

People

Asda co-owner Mohsin Issa steps down from executive role

Struggling British supermarket chain Asda has announced that Mohsin Issa is stepping back from his executive leadership role to focus on his previously announced responsibility as sole CEO of EG Group. The company said in a release that Stuart Rose will assume Issa’s executive responsibilities alongside Rob Hattrell until a new CEO is recruited....

Fashion |In Pictures Featured

George at Asda collaborating with Roksanda for LFW

London Fashion Week designer Roksanda is collaborating with supermarket clothing brand George at Asda as part of LFW’s continued 40th-anniversary celebrations. The collaborative collection will offer Roksanda’s signature style to an accessible audience while raising funds for the BFC Foundation programme, a charity supporting the future growth...

Business

George at Asda reports 3.9 percent increase in online sales

Asda continued to deliver a strong online performance in grocery and clothing in the second quarter. Fashion retailer George under Asda grew its online revenues by 3.9 percent during the quarter under review. The company said in a release that total George clothing sales decreased 3.9 percent on a LFL basis, partly reflecting Asda’s strategic...

Business

George owner Asda names David Devany as VP of ecommerce

Asda has appointed David Devany as vice president for ecommerce, who is joining the company Iceland Foods. At Iceland Foods, he held the role of group chief customer, marketing and digital officer since 2020. The company said in a statement that Devany brings over 25 years of experience in ecommerce, digital and marketing, and will focus on...

Business

Asda revenue rises in FY23, George business continues growth

UK supermarket giant Asda has welcomed a notable uptick in its revenue for the fiscal year 2023, increasing to 21,898 million pounds (excluding fuel) at a year-on-year growth rate of 7.1 percent. Net profit for the period came to 195 million pounds, up from a net loss of 354 million in FY22, while operating profit also improved to 637 million...

Business

TDR Capital becomes majority shareholder with 67.5 percent stake in Asda

Funds managed by TDR Capital, a UK-based private equity firm, have acquired Zuber Issa’s shares in Asda. Mohsin Issa remains a co-owner in Asda alongside TDR Capital. The company said in a release that TDR Capital now owns 67.5 percent of Asda with 22.5 percent owned by Mohsin Issa and 10 percent by Walmart Inc. The transaction is set to...

Retail

Asda to update George departments as part of 50 million pound retail investment

Supermarket giant Asda has outlined its plans for a 50 million pound store upgrade programme as it looks to improve the shopping experience of its customers. While the programme is set to be carried out over 170 stores in total, 50 of larger stores will receive major updates, including the introduction of new in-store services and features....

Business

Asda revenues up as George ‘outperforms’

Supermarket giant Asda has reported promising financials for the first quarter ending March 31, during which its revenues rose 6.6 percent to 5.3 billion pounds. Among the contributors, the retailer’s clothing brand George at Asda was cited to be a strong benefactor as it “outperformed the fashion and homewares markets during the quarter”, Asda...