Tesco continues to increase market share despite falling UK sales

Tesco continues to increase market share despite falling UK sales

0652 GMT – Tesco has been a winner from the pandemic, and although sales in the UK fell in the first quarter of financial year 2023, it should still continue to gain market share over the next 12 months, has said Third Bridge analyst Alex Smith in a research note. However, the British grocer’s intention to negotiate lower prices with suppliers will not be an easy task to accomplish, says Third Bridge. “Its relatively limited product range and shaky reputation means it can’t push negotiations too far,” says Third Bridge. ([email protected]; @sabelaojeaguix)

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(END) Dow Jones Newswire

06-17-22 0320ET

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