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Business Activity in Context
Asda Group PLC
Formed in 1965 by a group of Yorkshire farmers the Asda group now has over 240 stores and 19 depots across the UK. ...
Over the last ten years the group have gone from strength to strength (see appendix one: Turnover and Appendix Two: Profitability). ... 1990 saw a significant drop in the group’s turnover and profit (1989: £246. ... 3m – Asda Group PLC Company Report 1990), a fact that the groups chairman, John Hardman blames on “difficult economic conditions” and “sustained higher interest rates given the groups increased borrowings” (chairman’s statement, Asda Group PLC Company Report 1990). During 1990 the Asda group acquired 60 large Gateway stores at a cost of £704 million. ... The group were the first British retailers to use one lorry with the ability to carry goods of different temperatures at the same time. ... This has resulted in the group reducing distribution costs to no more than 3% of sales. ... From only 5 stores the range has grown to a 204 store, £600 million business. ... The breakout scheme revolves around Asda’s core business value: “We are all colleagues, one team”. ... With £100,000 spent on landscaping each new Asda store the group hope to integrate stores into its surroundings. The group also took part in Manchester City’s “Hulme Regeneration Programme” with 80% of their 400 strong workforce at their Hulme store unemployed before starting with Asda. ...
In June 1998 the Asda group announce pre-tax profits of £405 million and the creation of 7,000 new jobs. ... Kingfisher valued each Asda share at just over 186p but were ousted by a surprise takeover by the American group Wal-Mart.
Approximate Word count = 1340
Approximate Pages = 5.4
(250 words per page double spaced)
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