J Sainsbury PLC (LSE:SBRY) shares ticked close to 2% higher after it was revealed the supermarket had made its largest market share gain in nearly three decades over the last quarter.
UK market share for the country’s second-largest supermarket rose from 14.8% in 2023 to 15.3% in the quarter to August 4, marking its largest leap since 1997 and keeping it on track to be the fastest-growing traditional supermarket.
During the quarter, Sainsbury’s saw its sales tick 5.2% higher, bettering all of its in-store rivals, with growth second to only Ocado, the online-only retailer, after its sales surged 11.3%.
Much of Sainsbury’s market share gains were helped by sharp falls in Asda, down year-on-year from 13.8% to 12.6%, and a slight slip backwards for Aldi, dropping from 10.1% to 10%.
Asda, which yesterday saw its performance labelled “embarrassing” by its chairman, experienced a 6% drop in sales during the quarter, driving the loss in market share.
Top dog Tesco continued to solidify its position in first place, maintaining its streak of winning market share every month since August 2023 as it grew to 27.6%.
Fraser McKevitt at Kantar said: “It is a mixed picture on supermarket shelves with prices now rising across 182 product categories, as the costs in 89 others fall.
“With this kind of pricing spread, shoppers will find that the type of product they’re putting in their baskets will really dictate how much they pay.”