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Asda to open 110 convenience stores in February
The move represents a record number of openings for a single month and puts the firm on track to reach 1,000 total stores across the UK for the first time in its 58-year history.
The supermarket will convert 109 former convenience stores acquired from the Co-op Group in October 2022 and then EG Group in October 2023, in addition to opening one brand new store.
The openings are part of a multi-million pound investment that Asda is making in its operations, as it seeks to become the second largest grocery retailer in the UK. According to Kantar data from January 2024, Asda holds a 13.7% market share putting it behind Tesco at 27.6% and Sainsbury’s at 15.7%.
Asda has claimed that customers shopping for groceries at Asda Express can expect to save an average of 8% compared to the former Co-op stores and 15% in comparison to the former EG Group convenience sites.
Having acquired a total of 470 convenience sites from the Co-op and EG Group, Asda said it plans to have completed all conversions by the end of March. A total of 259 sites had been converted by the end of January, while a further eight new stores have been opened.
In 2021, Asda was acquired by the Issa Brothers and TDR Capital and has since actively pursued expansion into the £40bn convenience sector. The firm has said that Asda Express stores will stock up to 3,000 branded and own-label products to suit a broad range of customer needs.
Several store conversions have already been completed with work set to continue throughout the month.
Commenting on the announcement, Asda vice president of convenience Andy Perry said: “Asda’s significant investment in building a nationwide chain of convenience stores is a key component of our long-term strategy to become the number two player in UK grocery.
“February is a transformational month for programme with a record number of store openings and conversion of all former Co-op sites to Asda Express sites. The teams have worked at pace to reach this point and we look forward to bringing Asda’s quality and low prices to many more communities across the UK.”
In other news, Kraft Heinz has signed an agreement with Carlton Power to study the development of a £40m renewable green hydrogen plant at its Kitt Green site in Wigan.
