Tesco's share of the grocery market grew to 31.1 per cent, according to TNS data for May. This compares with 29.7 per cent this time last year. Asda remained in second place, with 16.4 per cent market share, and Sainsbury's was a close third with 16 per cent. In fourth place, Morrisons' share was down slightly on last year at 11.3 per cent.
JP Morgan Securities analyst Jaime Vazquez noted: 'Industry growth rose 4 per cent, for the four-week period, against an average of 3.6 per cent over the last two periods (neutralising Easter effect). A rather damp May appears to have had little effect on slowing the market, all major players did well at the expense of the co-ops and independents.'
Vazquez pointed out that Tesco topped the sales growth rate for the four-week period at 8.7 per cent, while Sainsbury's increased by 5.5 per cent, Asda grew sales 5 per cent and Morrisons' sales were up 0.8 per cent. He said: 'Asda grew sales 5 per cent compared with 2.9 per cent for the two preceding months. This shows the first positive result for Asda for some time and enabled the business to retain number two slot in the market.'
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