Leeds-based supermarket group Asda published an update on second quarter trading for the period ending June 30 and reported that “its continued investment to lower prices for customers strengthened volumes and like-for-like sales during the quarter.”

Asda said its total revenue for Q2 (excluding fuel) decreased by 0.2% year-on-year to £5.3 billion.

On a like-for-like basis, sales declined by 0.2% “representing a 2.9% step on from Q1 and the fourth consecutive quarter of improving like-for-like sales.”

Asda Executive Chairman Allan Leighton said: “We saw a clear improvement in performance during Q2, with volumes and like-for-like sales strengthening, driven by better product availability and our material investment in price. This widened the price gap over competitors and firmly re-established Asda as the best-value traditional supermarket.

“This week, we completed the rollout of Project Future, with all stores now operating on our new systems. The collective rate of completion did cause some temporary disruption with product availability and in our online experience, which will impact our sales outturn in the current quarter.

“As planned, we expect to exit the year in like-for-like growth as we continue our investment in price to protect our customers from inflationary pressures. As we’ve said from the outset, transforming Asda will take time, but we remain confident in the direction of travel and the long-term potential of the business.”

Asda is owned 67.5% by TDR Capital, 22.5% by Mohsin Issa, and 10% by Walmart Inc.