Asda To Create 10,000 Jobs In Convenience Store Expansion [Barron's]
Walmart Inc. (WMT)
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Source: Barrons
The retailer, currently the UK's third largest, is aiming to overtake Sainsbury's and take second spot behind Tesco. Asda is pegging its expansion hopes on the convenience store market, which it forecasts to grow by 13 percent to over £50 billion ($61 billion) in Britain by 2027. "The development of a store network in this market is a key part of Asda's long-term growth strategy to become the UK's second largest supermarket," it said in a statement. The supermarket opened its second Asda Express store on Tuesday, in a residential development in Tottenham, north London, as it confirmed plans to open 300 more by the end of 2026. It also announced in October the planned acquisition of 132 convenience stores attached to petrol stations from rival chain Co-op. British-Indian billionaire brothers Mohsin and Zuber Issa and private equity firm TDR Capital bought Asda from US retail giant Walmart for £6.8 billion last year. In Tuesday's statement, co-owner Mohsin Issa said a key p
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