Tesco Plc (TSCO)’s leading share of U.K. grocery spending rebounded from a seven-year low as sales increased, according to Kantar Worldpanel data.
Britain’s biggest supermarket operator accounted for 30.2 percent of grocery purchases in the 12 weeks ended March 18, Kantar said today in a statement, an increase from 29.7 percent reported a month ago, though down from 30.6 percent a year earlier. Tesco’s revenue growth accelerated to 2.7 percent in the period from 2.5 percent a month ago, while trailing an industrywide increase of 4 percent, the researcher said.
Tesco, which is based in Cheshunt, England, introduced coupons and promotions on fuel and vowed to boost spending on customer service after saying in January that slowing sales growth at home would lead to “minimal” profit increases in the year through February 2012. Shoppers have decamped to both upscale chains such as Waitrose Ltd. and discounters including Iceland Foods Ltd. and Aldi.
Aldi had the strongest U.K. sales growth, with a 29 percent jump in the three-month period, London-based Kantar said. The German company increased its share of U.K. grocery spending to 2.6 percent from 2.1 percent a year ago. Waitrose, a unit of John Lewis Partnership Plc, boosted its share to 4.4 percent from 4.3 percent.
Wal-Mart Stores Inc. (WMT:US)’s Asda chain increased its share to a record 17.9 percent from 17.3 percent a year earlier. The market share of J Sainsbury Plc (SBRY) and William Morrison Supermarkets Plc held steady at 16.6 percent and 12.3 percent, respectively.
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