Ian King, Deputy Business Editor
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Asda said yesterday that it has welcomed 900,000 new shoppers during the past month.
The claim comes just days after Tesco said that some 300,000 new shoppers had been entering its stores on a weekly basis since the introduction of its new discount ranges.
The figures, along with those published yesterday by Wm Morrison, would appear to confirm that trends revealed in October “switching” data, leaked to The Times earlier this week, have continued into November.
They were revealed in the latest monthly trading update from Wal-Mart, Asda’s US parent, which said that Asda had enjoyed strong sales and continued market share gains.
Asda opened seven new stores in the period – more than in any period in the past three years.
Andy Bond, chief executive of Asda, said: “Our strategy of offering shoppers everyday low prices across both food and non-food continues to deliver strong sales and market-share gains.
“The extra 900,000 customers coming through our doors is clear proof that our strategic focus is the right one for these difficult times. In food, we are growing at almost twice the rate of Tesco and Sainsbury’s and ahead of Morrisons and, even in nonfood, we are one of the best performing retailers both in terms of volume and value.
“In clothing, for example, we have gained 20 basis points of market share so far this year.”
Shares of Tesco fell 8.9p to 326p after Cazenove, its joint house broker, issued clients a note that was critical of it.
Cazenove’s food retail team – Jaime Vazquez, Alastair Johnston and Bianca Brebnor – told clients: “We believe there is no evidence that Tesco’s UK-sales momentum is turning, which is the message management is transmitting.
“Tesco continues to lose market share and in the third quarter its growth slowed down while the other Big 3 held up. The general perception that Tesco has sprung from a situation of flat or falling volumes to one of rising volumes is completely incorrect, in our view.”
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