This is Money reports that Tesco last quarter showed a 1.3 percent drop in UK sales and 0.4 percent loss of market share, dealing yet "another setback" to CEO Dave Lewis, who was hoping that he'd got the company back on a more positive track.
According to the story, "Britain’s fourth biggest grocer Morrisons, which is tipped to fall out of the FTSE 100 index of leading shares this week, was the only retailer to see increased sales. However its market share remained unchanged at 10.9 per cent.
"Sainsbury’s has also held its share at 16.5 per cent despite sales falling by 0.3 per cent and Asda sales were down by 2.4 per cent.
"Lidl saw sales grow 8.8pc and its market share reached a record of 3.9 per cent, up from 3.6 per cent last year. Aldi also grew sales by 15.7 per cent, taking its share to 5.4 per cent of the market. At Waitrose, sales growth was lifted by 1.6 per cent taking its market share to 5.2 per cent."
According to the story, "Britain’s fourth biggest grocer Morrisons, which is tipped to fall out of the FTSE 100 index of leading shares this week, was the only retailer to see increased sales. However its market share remained unchanged at 10.9 per cent.
"Sainsbury’s has also held its share at 16.5 per cent despite sales falling by 0.3 per cent and Asda sales were down by 2.4 per cent.
"Lidl saw sales grow 8.8pc and its market share reached a record of 3.9 per cent, up from 3.6 per cent last year. Aldi also grew sales by 15.7 per cent, taking its share to 5.4 per cent of the market. At Waitrose, sales growth was lifted by 1.6 per cent taking its market share to 5.2 per cent."
- KC's View:
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I've long felt that every major US retailer ought to spend a lot of time focusing on what has happened in the UK, and how Aldi and Lidl have totally upended the competitive mix there. Because they've done it there, and the goal is to do it here.
