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Market Commentary

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Weekly Retail & Leisure News - 21 November​​​, 2016​​​​​​​​​​​​​​​​​​​​​

​​Tesco fightback gathers pace

Tesco’s sales are rising at the fastest rate in three years, according to Kantar Worldpanel data, as sales increased 2.2% in Q3 to November 6. Tesco’s market share is now 28.2%, up from 27.9% in the same period a year ago, as the grocer’s recovery gathers pace. Although Tesco accounts for 50% of the UK’s online grocery market, Amazon’s recent tie-up with Morrisons, that will allow same-day delivery of Morrisons’ products via Amazon’s Prime service, strengthens Morrisons’ position as an online player, and will further intensify competition between the main UK grocers.

In other news, despite Brexit uncertainties, UK expansion is still on the cards for many retailers. The value retailer B&M, which reported a jump in total UK sales of 18% in the 26 weeks to September 24, has opened 20 net new stores across the UK in the same period. B&M operates 519 stores in the UK and plans to open 50 new stores during its current financial year. Children’s stationery chain Smiggle continues with plans to open 200 stores across the UK in the next two years, despite concerns that Brexit could slow consumer spending. And in London, H&M has signed a five store deal with Westfield Stratford City, including a new flagship store which when it opens, will be its biggest UK store yet. Also expanding to Westfield Stratford City is Nespresso, which opened a permanent boutique in the centre this quarter, with three more boutiques planned to open in Kingston, Sloane Square and Dublin this year.

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