So far the news for the holiday shopping season is Wal-Mart (WMT) may have a very, merry Christmas. In the UK that is already a given, as Wal-Marts' supermarket chain in the country - Asda - has said it has had the "best-ever Christmas."
Asda is the No. 2 supermarket chain in the UK, and competes directly with British market leader Tesco, as they are starting to do now in the US, with Tesco entering the US market recently.
Andy Bond, Asda's chief executive and president, said concerning the holiday results:
"We served a million more customers in the week before Christmas compared with the previous year. As a result we had our best-ever Christmas, with the strongest performances in both fresh food and clothing."
He attributed much of the success from consumers looking for "value retailers" this season.
Other British competitors like Marks & Spencer, Sainsbury, DSG International and Next underperformed during the Christmas season.
According to the British Retail Consortium, it's the worst Christmas for retailers in the country in three years.
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Tracked on: January 28, 2008 10:14 PM | Permalink to Trackback