UK: Supermarket sector in good health following wet summer
The UK supermarket industry has recovered from a poor summer, demonstrating good growth in the three months up to the week ending 7 October.
Figures from the research group TNS showed that UK grocers grew at an annual rate of 5% in the period, compared to only 3% between mid-May and early August, when they were battling with poor weather and tough comparisons on the year before.
In a statement TNS Worldpanel director of research Edward Garner said: "It shows the grocery sector is putting the financial gloom of recent weeks behind it and returning to historical growth trends."
Tesco, the UK's largest supermarket operator, grew by 6% in the period, and in doing so lifted it share of the market to 31.8%. This is its highest ever share of the UK sector and up from the 31.4% share it held a year ago.
Asda and Sainsbury's also boosted their share of the trade.
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