The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale In Non-Specialised Stores 47.11 - Retail sale in non-specialised stores with food, beverages or tobacco predominating
7,000 jobs Number of planned job creations
Announcement Date
21 February 2006
Employment effect (start)
Foreseen end date
31 December 2006
Description
Supermarket group Asda is to open at least 25 stores in 2006 , creating 7,000 jobs, in an expansion aimed at returning it to growth after market share slid from 17% to 16.4% in 2005. The stores will include supermarkets, small neighbourhood shops and non-food stores. News of Asda's plans came as parent company Wal-Mart reported a 13% jump in fourth-quarter sales but fell short of targets with its current year estimates. Good Christmas sales helped push fourth-quarter net income to $3.59bn (£2.06bn) or 86 cents a share, but its current full-year forecast of $2.95 a share disappointed analysts.
Sources
22 February 2006: The Guardian
Citation
Eurofound (2006), Asda, Business expansion in United Kingdom, factsheet number 62971, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62971.
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