Tesco returns to growth as Drastic Dave’s overhaul gets underway
TESCO has returned to growth after one of the most turbulent years in its history, according to the latest market share figures, in a sign that chief executive Dave Lewis’s turn-around efforts are starting to pay off.
Sales increased by 0.3 per cent in the 12 weeks to 1 February compared with the same time last year, marking its first sales growth since January last year, Kantar Worldpanel said yesterday.
That was better than performances at Asda, Sainsbury’s and Morrisons, where sales fell 1.7 per cent, one per cent and 0.4 per cent respectively.
Despite the sales improvement, Tesco’s overall market share still fell to 29 per cent, down from 29.2 per cent in the same period last year.