Belfast Telegraph

Wednesday 27 August 2014

Store wars shock as Asda gets overtaken

Sainsbury's has overtaken Asda's market share to become the second largest UK supermarket as it reported profits of £400m in the first half of the year.

With 16.8% of the market, it is now second only to Tesco and has also enjoyed a jump in profits of 9% on the same time last year.

It was the best performing of the so-called "big four" supermarkets, and the only one to have increased its market share in the period.

Tesco, Asda and Morrisons have all suffered from competition with discount brands Aldi and Lidl.

Sainsbury's has now achieved 35 back-to-back quarters of growth in sales, with own-brand sales rising twice as fast as branded products. Its Taste the Difference range has seen growth into double figures.

Total sales for the half year to September 28 rose 4.4% to £13.9bn. Convenience stores performed best, up 20% in the period, while online sales rose by 15%.

The company added 393,000 square feet of new space through six supermarkets, 50 convenience stores and two extensions.

Not including new stores, sales rose by 1.4% from the previous year.

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