Economy Tesco and Sainsbury’s post weak growth, lose market share

Tesco and Sainsbury’s post weak growth, lose market share

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Tesco and Sainsbury’s post weak growth, lose market share

 Britain’s three biggest grocers, Tesco (TSCO.L), Sainsbury’s (SBRY.L) and Asda (WMT.N), lost market share in the 12 weeks to Oct 7 as consumers increasingly shopped at discount supermarkets Aldi and Lidl, research firm Kantar Worldpanel said on Tuesday.Sainsbury’s, which has agreed to takeover Asda, was the laggard of the “big four” chains, with growth of 0.6 percent, Kantar said. Sales at market leader Tesco rose 0.9 percent, while Asda saw an increase of 2.4 percent, the same as seen at number four, Morrisons (MRW.L).

Aldi increased sales by 15.1 percent, its fastest rate of growth since January, Kantar said, and Lidl attracted more shoppers through its doors, helping sales rise 10 percent.

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