UK Supermarket Sales Grow Slightly In July 2016 Quarter

Supermarket sales in the UK grew 0.1 percent during the 12-week period ending July 17, 2016, compared with the same period in the previous year, according to Kantar Worldpanel. Tesco saw its sales fall 0.7 percent during the period; however, the rate it is losing market share has slowed down, with its share dropping slightly by 0.2 percentage points to 28.3 percent. Sainsbury's lost 0.2 percentage points of its market share to 16.3 percent, with sales falling 1.1 percent during the period. Asda and its recently appointed CEO Sean Clarke saw sales drop 5.6 percent, with market share falling to 15.5 percent. Although Morrisons also suffered slower sales, seeing turnover drop 1.8 percent, this was the best results for the retailer since January 2016.