Tesco’s share of UK entertainment market grows

<p>Tesco is now second only to Amazon.</p>

Tesco has seen its share of the UK entertainment market grow and the supermarket chain is now in second place, behind only Amazon.

The firm is now responsible for over 13 per cent of the sales made in this sector and has therefore overtaken stricken high street retailer HMV.

Figures from consumer group Kantar Worldpanel indicated that Tesco now has a 13.2 per cent share of this market and this trend is likely to continue in the coming years.

"Tesco has been boosted by its ongoing success selling big video releases," said Kantar Worldpanel consumer insight director Fiona Keenan.

The Hobbit: An Unexpected Journey has helped to boost DVD sales at Tesco and the film is the second most popular release at the supermarket in the last three months.

On the back of the release of the sales data, shares in Tesco are up this morning (July 11th).

In early trading at 08:23 BST, its stocks were up by 0.21 per cent on the start of the session.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.