Up-for-sale British Retail Giant Asda Targets Online Expansion

Up-for-sale British Retail Giant Asda Targets Online Expansion

Asda, the British supermarket giant of the world’s biggest retailer Walmart, confirmed expanding weekly delivery capacity to one million slots by 2021 to meet the demand for online grocery shopping driven by the COVID-19 crisis.

Walmart, whose attempt to sell Asda to its UK rival Sainsbury’s for 7.3 billion pounds ($9.6 billion), was crushed by Britain’s competition regulator last year, confirmed that last month it had restarted talks with potential buyers of the majority stake in the supermarket chain.

Walmart and Asda made no comment on the progress of those earlier talks in their latest statements. Asda said online grocery sales doubled, and the click-and-collect sales quadrupled during the second quarter to June 30 – a period during which Britain was in lockdown for all but a few days. The pandemic has shaped a structural shift in the overall customer behaviors towards grocery shopping.

To Read More: Reuters