Asda is preparing to increase the pace at which it opens smaller stores as the UK retailer looks to boost sales through in-store innovation, analysts have suggested.
According to a note from JP Morgan, Asda told a supplier conference last week that it plans to open around 100 smaller format outlets over the next three to five years.
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The group added that it will also accelerate its non-food Asda Living store openings as well as increasing its focus on Internet sales.
“Asda said that in the next five years, it wants to be the clear number two in food and number one in non-food, which means it would have to double sales in non-food in the next five years,” JP Morgan analysts wrote.
The company declined to comment. However, it is expected to outline its plans when US parent company Wal-Mart issues its fourth quarter results tomorrow (18 February).
Asda declined to comment when contacted by just-food.
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