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Bloomberg
Walmart Inc’s Asda reported its eighth consecutive quarter of growth after the US retail giant said that it was “seriously†considering an initial public offering for the UK grocer in the future.
Asda delivered 0.5 percent like-for-like sales growth excluding petrol for the first quarter of 2019. Figures were adjusted to account for the later Easter date compared to last year. Walmart said it’s continuing to focus on strengthening Asda’s long-term success following the UK antitrust regulator’s ruling to block its planned merger with rival supermarket J Sainsbury Plc. Asda’s retail parent reiterated the potential for an IPO in the future. The company pointed to a “challenging backdrop†in the UK, but didn’t provide any detail.