By Jonathan Davies

Tesco has continued to lose some of its groceries market share, according to new figures released by retail analysts Kantar Worldpanel.

Overall the grocery market grew by 0.7% in the three months to 12 October. But Tesco saw its market share fall from 30.1% to 28.8%, compared to the same period last year.

It comes amid an ongoing crisis for Tesco. On top of falling sales and profits, it recently discovered a £250m overstatement in its profit forecast.

Tesco, the UK's largest retailer, is due to publish its latest trading update on Thursday. But HSBC analysts David McCarthy has suggested that Tesco will need to invest £3bn in order to turnaround the business.

Mr McCarthy said: "Tesco has been going wrong for six years or more and it could take as long to put things right as it took to go wrong."

Elsewhere, Waitrose gained its largest ever market share of 5.2% which led to a 6.8% rise in sales. Waitrose has seen sales grow in every month since March 2009.

Of the 'Big Four' supermarkets - Asda, Morrisons, Sainsbury's and Tesco - Kantar's figures showed that Asda was the big winner during the period. It gained 1% of the market, taking its total to 17.3%.

In comparison to previous months, Aldi saw growth slow down slightly. But sales were still up by an extremely strong 27% with a market share of 4.8%. Lidl saw growth of 18% and now has a market share of 3.5%.

You can tweet your reactions to @freshbusiness or email editor@freshbusinessthinking.com

Join us on
Follow @freshbusiness