The UK’s largest retailer Tesco has come under fire for putting up prices faster than any other British grocer.
Research by senior Bernstein analyst Bruno Monteyne has found that Tesco is more expensive than John Lewis for non-food purchases.
Monteyne, who is a former Tesco employee, told the Guardian: “Tesco is now in an impossible position: it is neither value nor quality, it is simply everywhere, and can’t compete with either the quality or value retailers.”
The retailer hit back at Monteyne’s claims saying it competes “very hard on price and quality to give customers the value they want from Tesco”.
The news comes after Tesco’s UK sales fell 1.5% in third quarter, with Ireland down 8.1%, the rest of Europe down 4% and Asia off 5.1%.
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