Iceland leads retail pack as sales increase beats rivals.
Revenues at Deeside-based Iceland increased 5.7% in the 12 weeks to May 16, beating the grocery market as a whole, which saw growth of 4.8%, according to figures released by Kantar Worldpanel.
Morrisons, the UK's fourth largest supermarket, is understood to be mulling a pounds 1.5bn for the chain, but the strong performance could entice it, or other potential bidders, to pay more.
Iceland counts for 1.9% of the grocery market. The figures also reveal that discount supermarkets Aldi and Lidl saw their sales grow by 15.4% and 16.1% respectively, as cash-strapped shoppers continued to tighten their belts in the face of soaring inflation, tax hikes and spending cuts. German chain Aldi now has a record 3.4% of food and drink sales. The grocery market, which had seen sales growth of just 2.6% in the 12 weeks to March 20, was boosted by recent hot weather, the Royal Wedding and Easter, said Kantar. Sales were up 7.8% in the four weeks to May 15.
Edward Garner, communications director at Kantar, said: "A rising tide lifts all boats and the top retailers performed well this month buoyed by the lifted market growth rate."
Waitrose was among the top performers, with sales up 8.8%, increasing its market share to 4.3% from 4.1%.
Supermarket leader Tesco increased its market share to 30.7% from 30.6%.
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|Publication:||Daily Post (Liverpool, England)|
|Date:||May 25, 2011|
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