Asda gaining grocery share in U.K.
Wal-Mart Stores is making strides across the Atlantic, as its Asda division is taking more of the grocery market share in the United Kingdom from rival Tesco.
According to a report from research firm Kantar Worldpanel, for the 12-week period ended March 18, Asda's share of the market grew to 17.9% on top of a year-over-year growth rate of 7.8%. By comparison, Tesco's growth rate of 2.7% lags behind the overall grocery market, which is growing at 4%.
According to Edward Garner, director at Kantar Worldpanel, Asda's record performance is largely due to the full integration of its Netto stores.
Click here for a video featuring Garner explaining these results.