Asda opens 1,000th store

The company announced a £150 million investment to increase retail pay by 8.4%, amounting to £415m total investment in hourly retail pay since the Issa brothers and TDR Capital acquired the brand.

Asda has announced proposals for a record £150 million investment in its retail pay offer to become the highest paying UK grocery retailer as it opens its landmark 1,000th store.

The announcement will see an 8.4% increase for hourly-paid store colleagues, following a 10% increase for hourly-paid retail roles during 2023. This results in a 28% total increase in retail pay since the acquisition of the brand by the Issa brothers and TDR Capital in 2021 – with a total investment of almost £415m.

“We want to be a company that people are proud to work for, which is why we are proposing increasing pay for retail and Express colleagues by more than 8% this year,” said Mohsin Issa, Asda’s Co-owner.

The new proposed rates of pay will exceed the Government’s National Living Wage and the current Real Living Wage and London Living Wage recommended by the Living Wage Foundation, are set to apply to colleagues in Asda Retail and in Asda Express, subject to ballot.

Asda’s record investment is set to boost hourly pay rates for more than 120,000 colleagues, as the chain has become the second largest grocery retailer in the UK with its 1000th opening.