Asda expects to open 168 stores this year, adding 1.8m sq ft of retail food space, in what it describes as“the largest single year of growth in its history”.
The additional space is a combination of planned organic growth and the acquisition of 147 Netto stores. The converted Netto stores will all trade under the Asda Supermarkets banner and will average 8,000sq ft in size.
Asda said all its customers would also benefit from its“national low-price policy”, which means prices do not differ from one store to the next, regardless of their size, format or location.
In addition to the 147 Netto conversions, Asda will also add a further 550,000sq ft of space organically, including the opening of seven new Asda Superstores, four new Asda Livings, 10 new Asda supermarkets and five extensions to existing Asda stores.
Last week, Asda entered into a contract to acquire six stores from Focus DIY, which, subject to landlord’s approvals and appropriate local planning consents, will be converted into AsdasSupermarkets.
Judith McKenna, Asda chief financial officer, said:“The combination of acquiring 147 Netto stores together with our organic growth plans means we will be able to save customers more money than ever before.”
In total Asda is investing more than£100m in capital converting the stores, helping create hundreds more jobs for its building and shop-fitting contractors. The first converted Netto stores – in Worksop, Wakefield and Stainforth – will open in May.
Source: Asda
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