Walmart considers IPO for Asda; impressive quarterly growth continues for Asda

by Apparel Resources News-Desk

15-May-2019  |  1 min read

walmart considering IPO for Asda
Image Courtesy: ft.com

Walmart, the world-renowned retail firm, has said that it is considering a stock market listing for Asda even if takes some years.

Addressing a team of store and other managers of Asda, Judith McKenna, President and CEO, Walmart International, said “While we do not want to rush into anything, we are considering IPO for Asda to ensure its long-term success.”

With this, Walmart also made it clear that it has no intentions of selling Asda to a private equity, which many were speculating after the Sainsbury deal was blocked on 25 April.

At that time Judith had said that the focus of Walmart was to position Asda as a strong UK retailer and ensure that Asda gets all the resources to achieve that.

Meanwhile, Asda has been witnessing like-for-like sales growth for seven consecutive quarters, which has been majorly due to its strategy of offering products at lower prices and making products more innovative.

According to the industry data produced by Kantar, Asda is expected to see eighth straight quarter of growth.

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