Excluding gasoline and the impact of new Asda stores opening, Asda reported a 5.4% gain in supermarket sales, which helped the company’s bottom line.
Pre-tax earnings increased by 24% to £1.1 billion in 2023 from 2022.
Excluding gasoline, the total sales value for the year was close to £22 billion.
Why have earnings increased?
According to the chain, this is because around six million customers currently use the Asda loyalty app.
According to the company, the Asda reward scheme is a “key revenue driver” and accounts for about half of all purchases.
George, Asda’s clothes division, was already the largest kids’ store in the UK, but sales rose by 3.4% year over year to reach £1.5 billion.
But compared to a year before, the growth in sales was less rapid.
