Brexit Means Higher Grocery Bills, Just Not at Tesco: Chart

Brexit Means Higher Grocery Bills, Just Not at Tesco: Chart

(Bloomberg) -- The Brexit-induced drop in the pound is pushing up the price of imported food in most U.K. supermarkets, though customers of Tesco Plc have barely noticed. Since Chief Executive Officer Dave Lewis joined in 2014, the U.K.’s largest grocer has shrunk its supplier base, enabling it to negotiate better terms by placing larger orders with those that remain. Lewis’s goal in holding prices down is to gain market share from Tesco’s main supermarket rivals while halting the hemorrhaging to discounters Aldi and Lidl.