Tesco Back In Sales Growth After Tough 2014

Written By Unknown on Selasa, 10 Februari 2015 | 18.56

Tesco has returned to sales growth for the first time in a year following a horrific 2014 for the chain, according to industry figures.

Statistics for the 12 weeks ending 1 February by Kantar Worldpanel showed a 0.3% increase in sales compared to the same period last year, with the chain attracting an additional 236,000 shoppers.

However, it was not all good news for chief executive Dave Lewis, who took over in September following the departure of Philip Clarke.

Despite the increase in sales, Tesco's overall market share fell to 29%, down by 0.2 percentage points compared with last year as the effects of the supermarket price war continued to be felt.

Tesco issued a series of profit warnings last year amid falling sales, though Mr Lewis found his first few months in charge dominated by the fallout from a £263m profits overstatement - a matter still the subject of a Serious Fraud Office inquiry.

But he responded to the discount challenge by cutting prices - funded by reductions to its core costs.

Thousands of jobs at the company are set to be lost as it mothballs planned stores, shuts unprofitable outlets and streamlines its head office operations.

Kantar said that Asda reclaimed the title of the second largest retailer in the 12-week period with 16.9% of the market, overtaking Sainsbury's which traditionally performs more strongly at Christmas than the rest of the year.

Both grocers saw sales fall compared with a year ago - Asda by 1.7% and Sainsbury's by 1.0%.

Morrisons' sales fell by 0.4%, the best performance from the Bradford-based retailer since December 2013 as it prepares to bid farewell to its chief executive Dalton Philips following poor Christmas sales.

The major chains have been battling the growth enjoyed by hard discounters Aldi and Lidl - with business also travelling to Waitrose at the top end of the grocery market.

The effects of the resulting price war have contributed to 17 consecutive months of price falls, with grocery inflation now standing at an annual rate of -1.2%.

Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, said: "Early results suggest that discounters Aldi and Lidl will find their accelerated growth levels hard to match in 2015.

"Aldi's growth of 21.2% is still impressive but a relative slowing from its 36% peak in April 2014.

"Likewise, Lidl's maximum growth of 24% in May last year is now down to 14.2%.

"Despite this slowdown, both retailers are still taking share from the other retailers - rising 0.8 percentage points and 0.4 percentage points respectively to 4.9% and 3.5%."


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