Asda's profits rose 24% to £1.1bn in 2023, primarily due to its loyalty scheme boosting sales.
UK's third-biggest supermarket chain, Asda, saw profits rise 24% to £1.1 billion in 2023, largely driven by its popular loyalty scheme which boosted sales. Total sales, excluding fuel, reached nearly £22 billion, with around six million customers now using Asda's rewards app. The loyalty program, Asda Rewards, is described as a key revenue driver for the business. The group also reported that clothing sales edged up by 3.4% to total £1.5 billion.
April 22, 2024
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