Supermarket Giant Asda Bounces Back From Recession

Supermarket Giant Asda Bounces Back From Recession

While many public and private sector workers face an uncertain future over job prospects, some areas of business are bucking the trend with positive growth and plans to expand their foothold in the UK. Supermarket powerhouse Asda have announced that it plans to create 7,500 new jobs in the UK next year, half of which will be at new stores.

The company plans to hire 3,500 new staff at new stores; 2,400 for its home shopping service and 100 in new pharmacies.

Asda, who bought the Danish discount retail chain Netto in May 2010, said that it will double the stores current headcount of 1,500 staff to nearer 3000.

Owned by US retail kingpins Wal-Mart, Asda is the second largest supermarket chain. Third quarter results have shown a return to growth for the period of 1.3 percent in the three months ended September 30 as compared to a 0.4 percent fall in the second quarter of the year.

Asda's underlying sales rise is in line with the increase reported by Morrison's Supermarkets, the fourth-biggest grocer, for the 13 weeks to October 31, but below the 2.1 percent rise posted by industry No.3 J Sainsbury for the 16 weeks ended October 2.

Andy Clarke, Asda's chief executive said "I'm proud to say that next year we will once again create thousands of new jobs at every level of our growing business."

With continued pressure on the disposable income of shoppers, retail shops are bracing themselves for a harsh Christmas and New Year period, when increases in the current 17.5% VAT rate will come into effect. Although the VAT increase will not affect essential food purchases, it will impact all non-essential food items and other luxury goods offered by the supermarket chains.

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