🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

UK grocery sales growth accelerates as Eat Out scheme ends

Published 13/10/2020, 08:03
© Reuters. FILE PHOTO: A customer wearing a protective face mask shops at a Morrisons store in St Albans
MRW
-
TSCO
-
SBRY
-
WMT
-

LONDON (Reuters) - British grocery sales growth accelerated in September, reflecting the end of the government's "Eat out to Help out" scheme and its call for people to return to working from home to stem a second wave of COVID-19, industry data showed on Tuesday.

Market researcher Nielsen said grocery sales growth was 8.3% year-on-year in the four weeks to to Oct. 3, having increased 5.3% in the previous four week period.

It said that while it saw big jumps in sales of disinfectants (up 92%), toilet tissue (up 34%) and household cleaning accessories (up 24%), the levels were well below those seen during the peak of the pandemic, and do not suggest the return of panic buying.

However, last month market leader Tesco (L:TSCO) and No. 4 player Morrisons (L:MRW) both reintroduced purchase limits on some products.

Nielsen said year-on-year growth of online sales was 91% as the major supermarkets continued to add delivery capacity.

Over the 12 week period to Oct. 3, Morrisons was the best performer of Britain's so called "big four" grocers, with sales up 8.7%.

Market leader Tesco (L:TSCO) saw growth of 6.5%, ahead of Sainsbury 's (L:SBRY) on 5.1% and Asda on 3.4%.

© Reuters. FILE PHOTO: A Morrisons store is pictured in St Albans

Earlier this month the billionaire Issa brothers and private equity group TDR Capital agreed to buy Asda from Walmart (N:WMT) in a deal which gave the British chain an enterprise value of $8.8 billion (6.8 billion pounds).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.