UK's Big Retailers See Sales Declines; Tesco Loses 1 Million Weekly Customer Visits

UK’s leading supermarkets Tesco and Morrisons suffered sales declines in the 12-week period ending May 25, 2014, according to data from market research firm Kantar Worldpanel. Compared with year-ago figures, Tesco’s sales dropped 3.1 percent, while Morrisons’ sales declined 3.9 percent, according to Kantar. UK’s grocery market stood at its weakest state ever in the last 11 years, Kantar’s data also revealed. Tesco’s share of the market fell from 30.5 percent to 29 percent, while Morrisons saw its market share dropped from 11.6 percent to 10.9 percent. In contrast, discount retailers Aldi and Lidl reported sales grew 35.9 percent and 22.7 percent, respectively. Sales of Wal-Mart’s Asda unit grew 2.4 percent, making it the only big-four supermarket to register an increase. It also maintained its market share at 17.1 percent by cutting prices.