Tesco 'loses customers to discounters'

Monday, 29 September 2008
 
Tesco is losing shoppers to its discount rivals as the credit crunch begins to take a grip, it has been claimed.

According to the Daily Mail, the supermarket has lost out on about £50m, which is now being spent in stores such as Lidl and Aldi.

Moreover, analysts have said that Tesco's growth rate will be lower than 10%, which would be its slowest for a decade.

The retailer, which unveiled its own discount line this month, will also reveal how its US venture, Fresh & Easy, is performing for the first time.

Market figures have suggested that Aldi and Lidl have boosted their sales as shoppers try to hunt out bargains.
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