Tesco chief executive Sir Terry Leahy has put UK retailers on notice that the grocer still has lots to go for - despite already taking£12 of every£100 spent by British shoppers.
Leahy said that Tesco now has a 12.3 per cent share of the entire UK retail market and its share had increased by 0.75 percentage points in the past twelve months.
He said: 'Tesco loves competition. It makes it a better business, as its track record shows.'
Tesco controls 5 per cent of the non-food market, but it is taking share from many specialist retailers. In toiletries and medicines it claims to have a bigger share by volume than Boots and Superdrug combined.
The grocer's total UK retail space will reach approximately 23.2 million sq ft (2.1 million sq m) by the year end, and sales of more than£1,000 per sq ft (£10,760 per sq m) a year are being achieved.
Over the past five years, UK like-for-like volume growth has been 26 per cent.
Retail Knowledge Bank research director Robert Clark said: 'Tesco is the British Wal-Mart and is now in the champions' league of retailing.'
Verdict Research analyst Steve Gotham said: 'Apart from luxury goods brands, it is difficult to identify a UK retailer that will not be impacted by Tesco.'
- Leader: page 11.
No comments yet