Asda Beats Gloomy Retail Sales Trends As End Of Year Approaches

Shares of U.K.-based Asda Supermarkets, a subsidiary of Walmart, are trading well as the company’s 500 stores report healthy sales during the holiday season compared to competitors. Food sales are robust, and non-food sales are doing at least as well as at other retailers, though special sales don’t kick in until December 26 (Boxing Day in the U.K.). Asda’s performance contrasts starkly with other retailers and high street chains that are already heavily discounting to lure customers before December 26. In terms of food sales, Asda has been running a steady "10% cheaper" price guarantee rather than launch end-of-year sales like its competitors. "We'll enter 2012 as a growth business," an Asda exec said.