May 19, 2020 / 11:17 AM / 16 days ago

Asda's first-quarter sales boosted by coronavirus stocking-up

LONDON, May 19 (Reuters) - Asda, the British supermarket arm of the world’s biggest retailer Walmart, said on Tuesday its first-quarter comparable sales rose 3.5%, boosted by consumers stocking-up on food in response to the coronavirus crisis.

It said higher growth in food was partially offset by weaker demand for apparel.

Asda also said it gross profit rate declined, primarily as a result of a change in mix towards lower margin categories in response to COVID-19. It also had incremental costs related to the pandemic. (Reporting by James Davey, Editing by Paul Sandle)

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