Asda invests in London – Food Retailing

Asda invests in London – Food Retailing – Brief Article

UK food retailing group Asda has announced a 114m [pounds sterling] (182.2m [euro]) investment in London, having opened its latest store and revealed plans for a further twelve new or refurbished stores in the London area.

The new stores will also be followed up by the arrival of London’s first Asda Wal-Mart Supercentre, due to open in November 2002. The outlet will be the ninth of its kind in the UK.

Asda’s latest London store, located in Walthamstow is a relatively small affair, with only around 17 500 square foot area.

The convenience sector has seen the big players, notably, Tesco, Sainsbury’s and Safeway muscle its way in. However, Asda said it has research which illustrated that many customers shopping in small store formats paid a price premium for doing so. Adsa’s new London stores will have identical prices to the other 255 ASDA stores across the UK.

MEETING NEEDS

Tony DeNunzio, chief operating officer at Asda said, “Walthamstow illustrates that we can flex formats and develop stores to meet the needs of every community. “Unlike other supermarkets, prices at ASDA are the same whether you’re shopping in Walton, Wakefield or Walthamstow.”

COPYRIGHT 2002 Agra Europe Ltd.

COPYRIGHT 2002 Gale Group