Tesco sales turn stale as it loses yet more market share

It’s not been a happy few days for new Tesco boss Dave Lewis, after four executives were suspended yesterday following the discovery first half profits had been overstated by £250m.

Even after he parachuted in new finance boss Alan Stewart three months early today, new figures serve to remind Lewis he has an even more pressing task than putting out fires in the accounts department: the supermarket’s shrinking sales.

Its market share was down 4.5% in the 12 weeks to September 14th, compared to the same period last year, according to figures from Kantar Worldpanel. While its market share is still by far the highest of any supermarket, at 28.8%, Tesco is shedding customers faster than any other.