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Lidl has overtaken Asda to become the third largest supermarket in London, hitting a market share high of 9.1%.

The discounter highlighted the latest Kantar data for the 52 weeks to 1 October 2023 showing it experienced the fastest growth out of all the supermarkets in the capital.

With more than double the market share of any other discount supermarket in the city, Lidl’s growth formed part of its £500m investment into London, while reaffirming its “unwavering commitment” to ensuring that all Londoners have a store within easy reach, the group said this morning.

In 2022, the discounter, which has more than 100 stores within the capital and M25, marked its expansion in London by opening nine new stores, including locations in East Acton, Kingston and Upton Park, while also securing a further five sites in the city for future expansion.

Early next year, it’s set to open another store in East Ham and has started construction at its Newbury Park and Bellingham sites.

GB CEO Ryan McDonnell said: “We have a clear commitment to providing shoppers with the very best value, and becoming the third-largest supermarket in London reinforces our dedication to ensuring that everyone can eat affordable, high-quality food, no matter where they live.

“We know convenience plays a huge factor when choosing where to shop in the city, which is why we’re pushing on with plans to bring many more locations to the capital in the future.”

Morning update

It’s a quiet start to the week for fmcg on the markets.

The FTSE 100 has opened down 0.4% to 7,372.75pts.

Early risers include C&C Group, up 1.7% to 144p, Naked Wines, up 1.3% to 44.6p, and M&S, up 1.2% to 216.9p.

Virgin Wines UK is down 2.4% to 40p, joined by Just Eat Takeaway, down 1.3% to 994p, and DS Smith, down 1% to 261.1p.

This week in the City

After updates from Nestle, P&G and Pernod Ricard last week, the third-quarter earnings season gets properly underway.

All eyes will be on Unilever on Thursday as the Dove and Magnum maker releases Q3 figures, giving an indication to how new chief executive Hein Schumacher is getting on at the group.

Reckitt Benckiser is due to put out a third-quarter update on Wednesday, while other quarterly results are set to be released this week by Coca-Cola, Kimberly-Clark and Archer Daniels Midland (all Tuesday); Heineken, Carrefour and Beiersdorf (Wednesday); Danone, HelloFresh, Keurig Dr Pepper, Hershey and APAC Budweiser Brewing (Thursday).

Amazon’s Q3 is also due out on Thursday evening in the US.

Outside of the big groups, alcoholic suppliers Virgin Wines and C&C Group will publish preliminaries and interims on Wednesday and Thursday respectively.