Tesco blames "subdued" grocery market as sales growth slows - News Summed Up

Tesco blames "subdued" grocery market as sales growth slows


The grocer said online food sales were up 7.0% year-on-year, with the proportion of customers choosing to Click & Collect their orders increasing to over 10%. However, total UK sales fell 0.4% as it was hit by its decision to close non-food arm Tesco Direct last July - a move which impacted sales growth by 0.8%. Dave Lewis, chief executive of Tesco, said: "We have had a strong start to the year, growing ahead of the UK market on both a volume and value basis. "Our customer offer is more competitive than ever, with a wider choice of our 'Exclusively at Tesco' products now available in more stores, helping to drive more than 10% sales growth across the range. "However, with Amazon bringing new meaning to the word ‘convenient, Tesco’s brand position has taken a hit.


Source: Daily Mirror June 13, 2019 06:55 UTC



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