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.
