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Aug 22, 2023

Britain's Asda to open 300 convenience stores in next four years

LONDON, Dec 6 (Reuters) - British supermarket group Asda said it planned to open

LONDON, Dec 6 (Reuters) - British supermarket group Asda said it planned to open 300 convenience stores by the end of 2026, aiming to become a player in the smaller shop market to help drive growth, and creating 10,000 new jobs in the process.

The group, Britain's third largest grocer after Tesco (TSCO.L) and Sainsbury's (SBRY.L), has traditionally focused on bigger shops and lagged its competitors in the smaller, convenience market.

It said on Tuesday that would change.

"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," Asda, owned since last year by brothers Mohsin and Zuber Issa and private equity company TDR Capital, said in a statement.

The group opened its second Asda Express convenience store in Tottenham, north London, on Tuesday, and added that it had found locations for more openings in Wiltshire, Essex and Surrey.

The 300 store target does not include the convenience stores which Asda was acquiring from grocer Co-op, it said. That deal was going through usual regulatory checks.

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