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Shares of UK supermarkets plummet

Thu 21/04/2022 by Richard Wilkinson
Sainsbury’s Supermarket in Aylesford. Copyright: John K. Thorne/Public domain

UK supermarkets saw their market value drop significantly last Wednesday due to rising costs and shifts in consumer habits. However, it was online specialist Ocado that was hit hardest, with shares closing down 2.6%, while the value of Sainsbury’s fell by 2.5% and Mark’s and Spencer’s was down 2.1%. 

In recognition of the struggles consumers are currently experiencing, Tesco has stated that it is “laser-focused on keeping the cost of the weekly shop in check” and it will be “making more products more affordable, in more places than anyone else”.

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