Asda has confirmed it is “on track” to have 500 Express stores open by the end of this year, as it remains committed to growing convenience.

The supermarket published its full year results for the period ending 31 December 2023 earlier this week, revealing a growth in like-for-like sales of 5.4%.

Asda outlined that it has 479 current Express sites, compared to just three at the end of September 2023. As a result, it is on track to have 500 by the end of this year as new ‘standalone’ sites open throughout the UK. The firm has an overall target of reaching 1,000 UK sites, for the first time in its 59-year history.

Asda took full control of 116 convenience stores and three development sites from the Co-op in the last year, as well as acquiring 356 predominantly freehold sites of EG Group’s UK business.

Asda’s co-owner, Mohsin Issa said: “We continue to strengthen the business by expanding in the growing convenience and food to go sectors, leveraging our loyalty app and driving innovation in online grocery where we are the UK’s second largest supermarket.

“Asda is a supermarket powerhouse built on rock-solid foundations – as our strong annual results and the 18m customers who shop with us every week demonstrate. Our strategy is all about growth and Asda increased underlying profit to more than £1bn and like-for-like sales by over 5% last year, while significantly growing free cashflow and reducing leverage.

“We are committed to doing the right thing for customers, colleagues and local communities – and are putting in place the strategic building blocks to set up Asda for long-term success.”

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