WMT Walmart Inc

By Adriano Marchese

Asda, Walmart Inc. (WMT)'s U.K. business, on Thursday said that sales declined 1.1% in the first quarter of 2019 due to the Easter calendar shift.

The third largest U.K. supermarket by market share said that sales grew 0.5% on a like-for-like basis in the quarter ended March 31, adjusting for the later Easter period compared to 2018. The company noted that the growth figure doesn't include petrol sales.

Asda was recently blocked by U.K. regulators for joining with the second-largest supermarket, Sainsbury's.

"Against a challenging backdrop in the U.K., Asda comp sales declined with the Easter flip, but transactions were positive as customer experience continued to improve," Walmart Chief Financial Officer Brett Biggs said.

He added that the company is focused on continuing to execute a strategy to strengthen the company's long term success, including a potential public offering in the future.

Write to Adriano Marchese at adriano.marchese@dowjones.com

(END) Dow Jones Newswires

May 16, 2019 08:02 ET (12:02 GMT)

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