Tesco shows no sign of losing its grip as the country’s biggest supermarket – despite fighting a price war and higher business costs, experts say.
Investors hope the grocery giant maintains sales growth when it publishes its half-year results on Thursday.
Sales rose 4.6 per cent in its first quarter, compared with the previous year, boosted by growing demand for own-brand and premium products.
Its share of the market is now 28.4 per cent, according to analysts.
Sky’s the limit: Tesco shows no sign of losing its grip as the country’s biggest supermarket
Sainsbury’s and Asda – Tesco’s biggest rivals – have seen market share fall, as discounters Aldi and Lidl gain customers.
Richard Hunter, from Interactive Investor, said: ‘At the first quarter numbers in June there were no signs that the company was losing its grip. Indeed, the juggernaut powered on.’
In April, Tesco said it expected to make as much as £400m less profit as the competition between grocers hots up.
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