London — Tesco’s sales growth outpaced its main UK rivals in the past month as the UK’s biggest grocer continued its revival in the face of a squeeze on disposable incomes. Separate reports from researchers Kantar Worldpanel and Nielsen both pointed to a strong month for the market leader, pushing its shares up the most in more than a month. Tesco sales rose 3% in the 12 weeks ended August 13, Kantar said, while Nielsen put the gain at 3.2%. Growth in the broader grocery market slowed due to weak sales of barbecue food and ice cream in cooler summer weather. "Tesco was the clear winner of the Big Four," HSBC analyst Dave McCarthy said in a note. "It continues to lengthen its lead and its importance to its supply base." The data provide a boost for Tesco, whose share price has been hit this year by concern that CEO Dave Lewis’s turnaround efforts were faltering. Brexit is also clouding the outlook for the industry. The European Union’s unwillingness to open trade discussions until th...
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