May 27, 2022


Personal equity-owned supermarkets Asda and Morrisons fall additional behind their Huge 4 rivals

Personal equity-owned supermarkets Asda and Morrisons have fallen additional behind their greatest rivals.

Gross sales at all the Huge 4 grocers had been decrease within the 12 weeks to February 21 than in the identical interval a yr earlier when lockdown boosted enterprise.

However whereas Tesco gross sales fell 2.6 per cent and Sainsbury’s by 4.1 per cent, Asda suffered a 5.5 per cent fall and Morrisons noticed gross sales tumble 8.2 per cent.

Gross sales at all the Huge 4 grocers had been decrease within the 12 weeks to February 21 than in the identical interval a yr earlier when lockdown boosted enterprise.

The figures, from market analysis group Kantar, raised fears non-public fairness barons might be dangerous stewards for the grocers.

New York-based Clayton, Dubilier & Rice purchased Morrisons for £7billion in October. 

Asda was purchased by billionaire Issa brothers and TDR Capital for £6.8billion in 2020.

German low cost supermarkets Aldi and Lidl each noticed gross sales rise 3.3 per cent.

Lidl overtook Co-op for the primary time to change into the UK’s sixth-biggest grocery store, with a 5.7 per cent share of the market.

Learn extra at DailyMail.co.uk

See also  Arm deal was a giant mistake, says prime Conservative