Asda targets 300 new convenience stores creating 10,000 jobs

Asda has laid out an ambitious expansion plan for its new convenience store business which will create 300 stores and around 10,000 jobs over the next four years.

It came as the supermarket group opened its second Asda Express store in Tottenham Hale, North London.

The new convenience stores are part of the firm’s growth strategy under the ownership of the billionaire Issa brothers and private equity backers TDR Capital, who took over the supermarket chain early last year.

Bosses said the plan will see the company open 300 more convenience shops by 2026, focusing on areas where there are currently no Asda stores nearby.

The UK’s third largest supermarket chain said it plans to open Asda Express shops next year in Wiltshire, Essex and Surrey as part of the rollout.

The stores will stock around 3,000 products including a range of fresh, chilled and ambient groceries.

Customers will also be able to buy a range of hot and cold ‘food for now’ options from Asda and partner brands including Leon, the group said.

Mohsin Issa, Asda’s co-owner said: “A key part of our growth strategy is to provide customers with more opportunities to shop at Asda closer to where they live or work.

“With more than three quarters of the UK population visiting a convenience store in the last 12 months, the potential for growth in this market is significant.

“Our ambition is to become the convenience destination of choice by providing shoppers great value and a comprehensive and convenient range of products and services under one roof.”

The plan for 300 new openings does not include the 132 petrol forecourts and convenience stores Asda is acquiring from the Co-op for around £600 million.
This deal is currently being reviewed by the UK’s competition regulator.