【巴克莱-2025研究报告】用凯度转换数据回答的四个关键问题.pdfVIP

EquityResearch

17June2025

UKFoodRetail

Fourkeyquestionsansweredwith

KantarSwitchingdata

KantarsSwitchingdatashowswhichUKgrocersaregainingEuropeanFoodRetail

fromwhichoftheirrivals.Keyconclusions:limitedsignofNEUTRAL

improvementineitherASDAsorMorrisonsEuropeanFoodRetail

JamesAnstead

performance;

MSsperformancerobustconsideringthe+44(0)2031346166

cyberincident;Tescosswitchinggainsalittlemoreresilientjames.anstead@

Barclays,UK

thanSainsburys.

MatthewClements

+44(0)2077736018

ThefollowingcompaniesareprivatelyheldandarenotundercoveragebyBarclaysResearch:Aldi,matthew.clements@

ASDA,Co-Op,Iceland,Lidl,Morrison,Waitrose.InformationaboutthesecompaniesisbeingBarclays,UK

providedforinformationpurposesonlyandisnotaninvestmentrecommendationbyBarclaysImogenDoyle

R