Asda to open 300 Express stores in the UK over next four years

Asda plans to open 300 convenience stores over the next four years in its battle to overtake Sainsbury’s to become Britain’s second largest supermarket.

The company, which was bought for £6.8bn two years ago by the billionaire Issa brothers and their private equity backers, has a market share of 14 per cent.

And it’s turning to convenience stores in a bid to catch up with Sainsbury’s, which has a 15.2 percent market share.

The plan to open 300 Asda Express stores will create 10,000 jobs by the end of 2026.

Asda has just two convenience stores under the Express format and opened the second in Tottenham Hale, north London, yesterday.

While households look to save money amid the cost-of-living tightness, grocers are fighting a fierce battle to win customers, with smaller convenience stores playing a major role.

Archrival Morrisons took over newsagent chain McColl’s in May and last month unveiled plans to convert most of them into Morrisons Daily stores.

Asda co-owner Mohsin Issa said convenience stores were an “important part” of his plans to grow the grocery business.

He said: ‘An important part of our growth strategy is to provide customers with more options to shop at Asda closer to where they live or work.

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

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