15 May 2000
Kwik Save costs Somerfield dear

SUPERMARKET chain Somerfield has lost more than a quarter of its market share in the past year, reports The Times.

Acording to figures from Taylor Nelson Sofres, the combined Somerfield and Kwik Save groups command of the market has dropped by 2.5% to 7.1%.

This calculates at 137 million of lost shopping income in April alone, reports the newspaper.

Somerfields market capitalisation has collapsed from 2.2bn to 270m in the past 18 months, after its acquisition of Kwik Save went wrong.

Taylor Nelson figures show that Tesco remained the clear market leader in April with 24.8% market share.

It was followed by Sainsburys with 18.6%, slightly down from the same period last year.

Asda picked up with 16.5%, against 14.9% last year, and Safeway stood at 10.1%, up slightly.