Out of pocket

9 January 2020 By Dasha Afanasieva Follow @dasha_reuters

Tesco’s local sales barely rose over the festive period. Like other big peers, the 25 bln pound company lost market share to discounters such as Lidl. Improving online services and stocking sought-after premium goods may do more to halt the rot than selling products more cheaply.

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Britain’s biggest supermarket Tesco said on Jan. 9 that sales in Britain and Northern Ireland fell 0.4% on a like-for like-basis in the 13 weeks to Nov. 23 compared with the previous year. Sales rose 0.1% over the six-week Christmas period to Jan. 4.

Research firm Kantar said Tesco’s market share in Britain fell to 27.4% in the 12 weeks to Dec. 29, compared with 27.8% a year earlier.

Total grocery spend in the period was 0.2% higher than in 2018 in Britain, Kantar said.

Tesco shares were up 2% at 0845 GMT on Jan. 9.

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