Tesco stems sales decline - UK
IOL Business - Oct 22nd 2014, 10:33
London - Sales at Britain's Tesco, the market-leading grocer reeling from an accountancy scandal, fell 3.6 percent over the last 12 weeks, industry data showed on Tuesday.
The data from market researcher Kantar Worldpanel put Tesco's market share at 28.8 percent for the 12 weeks to October 12, down from 30.1 percent in the same period last year.
The outcome for Tesco is an improvement on the 4.5 percent sales fall Kantar reported last month.
Kantar said Britain's overall grocery market saw growth of 0.7 percent over the latest 12-week period.
Like-for-like prices fell 0.2 percent, pushing the grocery market into deflation, Kantar said.
Tesco is due to publish interim results and an update on its probe into a 250 million pounds (R4.4 billion) profit mis-statement on Thursday.
From © Independent On-line 2013. All rights reserved.
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