Tesco to Continue Growing Market Share Despite UK Sales Decline

0652 GMT - Tesco was a pandemic winner, and even though U.K. sales declined in the first quarter of fiscal 2023, it should still continue gaining market share over the next 12 months, Third Bridge's analyst Alex Smith says in a research note. However, the British grocer's intention to negotiate down prices with suppliers won't be an easy task to accomplish, Third Bridge says. "Its relatively limited product range and fragile reputation means it can't push negotiations too far," Third Bridge says. (sabela.ojea@wsj.com; @sabelaojeaguix)

 
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Contact: London NewsPlus; paul.larkins@wsj.com

(END) Dow Jones Newswires

June 17, 2022 03:20 ET (07:20 GMT)

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