Discount brands hamper Tesco’s growth

Sales growth at Tesco halved in the three months to November 22.
The supermarket retailer saw sales up 2% in the quarter, compared to 4% in the previous quarter and 4.8% in the same quarter last year.

Tesco has not seen such slow growth since the early ’90s.

It attributed the drop to the introduction of new discount brands, but said that these had attracted more customers and increased sales volumes.

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