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Festival of drinks adds fizz to Tesco performance

By Holly Williams

Market leader Tesco notched up its best performance since March 2014 thanks in part to its popular summer Drinks Festival, narrowing its sales falls to 0.2% year-on-year in the 12 weeks to September 11, according to the latest figures.

But Kantar Worldpanel revealed the supermarket continued to lose market share, falling from 28.2% to 28.1%, as did all its Big Four rivals.

Sainsbury's sales slumped by 1.4% and its share of the sector eased back to 15.9% from 16.2% a year earlier as it took a hit from axing its promotions in favour of everyday lower prices.

Struggling rival Asda remained under pressure as sales fell 5.2% and its market share dropped to 15.7% from 16.7% from a year ago, while moves to trim its number of stores saw sales slip 2.3% at Morrisons and its share fall to 10.4% from 10.7%.

In Kantar's most recent Northern Ireland figures, for the 52 weeks to August 2016, Tesco's market share was steady at 34.7%, while Asda grew its share by 1.8% to reach 17.5%. Lidl's market share also grew 1.6%.

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