Store giants to face off with results

Half-year results from Tesco, which launched a £500m price cutting campaign last week, are expected to reveal that UK like-for-like sales excluding fuel and VAT fell 1.2 per cent in the second quarter, as shoppers benefited from fierce competition.

Tesco’s share of the grocery market slipped to 30.4 per cent from 30.8 per cent in the three months to September 4, while Sainsbury’s and Morrisons saw slight gains.

In contrast to Tesco, Sainsbury’s is set to reveal its recent solid growth has continued.

The UK’s third biggest supermarket chain behind Tesco and Leeds-based Asda, is expected to report a 1.5 per cent increase in like-for-like sales excluding fuel in its second quarter, down from 1.9 per cent previously.

Its figures include VAT, whereas Tesco’s do not.

Sainsbury’s has outperformed rivals Tesco and Asda as its feed a family for a week for £50 campaign struck a chord with consumers.