Asda grows its share of the market

Asda has closed the gap on struggling giant Tesco after a report revealed that its share of the grocery market has grown to record levels.

Asda's market share rose to 17.9% in the 12 weeks to March 18 from 17.3% a year ago, Kantar Worldpanel said, boosted by buying 147 Netto stores and the impact of its price guarantee scheme, which offers to refund customers if their shop is not 10% cheaper than at rivals.