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November 26, 2013

Tesco in Trouble as it sales declines in the last 2 Quarters




Tesco is the the third largest retailer in the world, behind Walmart and Carrefour. In the UK, it has an estimated 30% share of the physical grocery market, and a 50% share online.

The third biggest Retail Chain in the world ”TESCO “  in Trouble .Tesco is likely to report another drop in UK  in its Q3, as compared to the same time last year sparking further questions about the progress of its turnaround strategy. which was launched This comes  after Tesco sales in UK  fell by 0.5pc in the 26 weeks to August 24, compared with same period last year.

Tesco was forced to issues its first profits warning in a generation last year on the back of falling sales in the UK,   post which a a £1bn turnaround plan was announced  to reverse the decline of TESCO

Analysts at Deutsche Bank and Barclays estimates that that Tesco's like-for-like sales fell by at least 1.5pc in the third quarter of its financial year.( Q3,2013)

The decline in  TESCO sales  comes in the backdrop of its rival and competitor J Sainsbury, as it grew  e 1.4pc growth.

According to Kantar, the UK's leading supermarkets are also under growing pressure from the discounters Aldi and Lidl, and Waitrose, the upmarket supermarket.
For the first time on record, the "big four" supermarkets - Tesco, Asda, Sainsbury's and Morrisons - are all losing market share in the UK

Tesco is the the third largest retailer in the world, behind Walmart and Carrefour. In the UK, it has an estimated 30% share of the physical grocery market, and a 50% share online.