November 15, 2012 / 12:05 PM / in 5 years

Asda third quarter sales up 0.3 pct

LONDON, Nov 15 (Reuters) - Asda, the British arm of U.S. retailer Wal-Mart Stores, posted an acceleration in quarterly underlying sales growth as its focus on low prices paid off.

Britain’s second-biggest supermarket chain behind Tesco said on Thursday sales at shops open more than a year, excluding fuel and VAT sales tax, were up 0.3 percent in the 13 weeks to Sept. 30, its fiscal third quarter.

That followed a rise of 0.7 percent in the second quarter.

The performance of Asda, which trades from over 500 UK stores, also reflects revamped fresh food lines and increased penetration of its own-brand food ranges.

The firm has also benefited from its price guarantee offering to refund customers the difference, via a voucher, if an online price comparison website does not show their shopping is at least 10 percent cheaper than at a rival.

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