Tesco (LON:TSCO) took the third spot in Ireland in the run-up to Christmas, the latest numbers from Kantar Worldpanel have shown. The update comes after it emerged last week that Britain’s biggest supermarket had seen its sales fall at home during the reported period as the country’s ‘Big Four’ retailers continued to lose market share to German discounters Aldi and Lidl.
Tesco’s share price has fallen into the red in today’s session, having given up 0.47 percent to 192.00p as of 14:22 GMT. The stock is fractionally outperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.57 percent lower at 6,806.06 points. The grocer’s shares have lost more than seven percent of their value over the past year, as compared with about a 9.3-percent dip in the Footsie.
Tesco takes 3th spot in Ireland
Kantar Worldpanel latest industry numbers showed today that Tesco had emerged as Ireland’s third-largest retailer in the 12 weeks to December 2, with a 0.3-percent sales growth, and accounting for 21.6 percent of the country’s grocery market. Dunnes Stores claimed the top spot for the third consecutive period, with a market share of 22.4 percent, followed by SuperValu whose market share stood at 21.7 percent.
“The summer heatwave provided the grocery market with a solid platform for what could be a bumper festive period,” Douglas Faughnan, consumer insight director at Kantar Worldpanel, commented in a statement. “With Christmas Day falling on a Tuesday this year, this gives retailers one full extra day of trading to look forward to.”
Analysts on FTSE 100 supermarket
The 14 analysts offering 12-month price targets for Tesco for the Financial Times have a median target of 280.00p, with a high estimate of 300.00p and a low estimate of 200.00p. As of December 15, the consensus forecast amongst 21 polled investment analysts covering the blue-chip grocer has it that the company will outperform the market.