Tesco’s market share increases for first time in two years

UK's largest retailer Tesco enjoyed an increase in market share for the first time in about two years, helped by the expansion of Clubcard loyalty scheme.

As per research firm TNS, Tesco's market share jumped to 30.7 per cent in the quarter to November, against 30.6 per cent in the same period of 2008.

Tesco's sales grew 4.7 per cent, up from market growth of 4.4 per cent.

Sales at Waitrose surged 12.3 per cent over the same period.

Still, Tesco lagged behind its main rivals in the concerned quarter. Asda, UK's second-largest supermarket chain, reported a growth of 6.6 per cent, while Sainsbury grew 5.6 per cent during the same quarter.

UK's fourth-largest supermarket chain Morrisons reported a growth of 8.5 per cent, the fastest during the 12-week period.