UK grocery retailer Sainsbury’s has continued to lose market share recently, but denied it was about to issue another profit warning.
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According to the latest industry data, based on till receipts, Sainsbury’s market share slid to 15.5% in the 12 weeks to 25 April, compared to 15.7% a month before and 16.5% in the year-ago period, reported Reuters.
Tesco, meanwhile, enjoyed another increase in market share to 27.5%, up from 27.3% a month before and 26.3% a year before, according to market research firm TNS.
“These findings suggest that the widely reported difficulties at Sainsbury’s over the past few years are continuing, with little sign of a turnaround in market performance,” Peter East, retail director at TNS, was quoted by Reuters as saying.
Morrisons’ sales in the 12-week period were up 15% from a year earlier, while Safeway’s sales fell 5%. The combined company now has a market share of 14.4%.
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By GlobalDataThe market share of the UK’s second-largest supermarket chain Asda, owned by US giant Wal-Mart, was unchanged from a month earlier at 16.6%. Its sales were 9% higher than a year earlier.
Meanwhile, Sainsbury’s dismissed industry speculation that it was about to issue another profit warning.
“We’re five weeks into the first part of the new year and there’s absolutely nothing to indicate that (there will be a profit warning) at the moment but it’s too early to tell,” a Sainsbury’s spokeswoman told Reuters.
