Overview

• The retailer finished rolling out its Project Future IT platform across all stores, food depots and offices, separating more than 2,500 systems from Walmart.
• Asda says the final phase created temporary in-store availability issues and online delivery problems that will weigh on sales through the quarter ending September.
• Second-quarter revenue excluding fuel fell 0.2% to £5.3 billion, with improved performance supported by product availability of about 96%, its best in eight years.
• The IT programme is reported to have cost around £1 billion, roughly £200 million above early expectations.
• Management continues deep price cuts averaging 22% and plans to open about 20 new Asda Express sites, while guiding for a return to like-for-like growth by year-end.