Britain’s Tesco increases dominance with 12-week sales rise
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LONDON (Reuters – Tesco, Britain’s most popular retailer, was the only of four major grocers in Britain to see sales increase in the 12 week period. It also increased its market dominance as it approaches Christmas.
Tesco reported that its sales increased by 0.4% over the year in the twelve weeks ended Nov. 6 and it has increased its market share by 0.2 points to 26.6%.
Asda, Morrisons and Sainsbury’s had sales declines of 3.1%, 2.4%, and 4.7%, respectively. All three lost market share.
NielsenIQ’s data echo figures from Kantar (a competitor researcher) last week.
Tesco posted a 16.6% increase in its first-half profit last month and increased its full year earnings forecast, despite disruptions to supply chains.
NielsenIQ stated that the UK’s total grocery sales declined 2.0% between Nov. 6 and Nov. 6, compared with high comparison numbers prior to a second COVID-19 lockdown.
The sales however increased by 4.9% compared to the same period last year.
According to the researcher, in-store visits were up 6.5% over last year during the same period. This is equivalent to nearly 28 million visits.
However, online sales have fallen to 12.2% (down from 12.6% during the past four weeks).
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