Asda boasts earnings and cash flow growth as low prices and loyalty apps win over consumers

City AM

Asda boasts earnings and cash flow growth as low prices and loyalty apps win over consumers

Earnings for UK supermarket giant Asda rose by a quarter last year on the back of repeat customers using store loyalty schemes. According to figures released by the chain today, adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 24 per cent to £1.1bn in 2023, against £867m the year prior. The growth was driven by a sales uptick of 7.1 per cent (total sales or 5.4 per cent like-for-like) to £21.9bn for the pe…