用凯度转换数据回答的四个关键问题

Barclays Capital Inc. and/or one of its affiliates does and seeks to do business with companiescovered in its research reports. As a result, investors should be aware that the firm may have aconflict of interest that could affect the objectivity of this report. Investors should consider thisreport as only a single factor in making their investment decision.This research report has been prepared in whole or in part by equity research analysts basedoutside the US who are not registered/qualified as research analysts with FINRA.Please see analyst certifications and important disclosures beginning on page 21.UK Food RetailFour key questions answered withKantar 'Switching' dataKantar's 'Switching' data shows which UK grocers are gainingfrom which of their rivals. Key conclusions: limited sign ofimprovement in either ASDA's or Morrison'sperformance; M&S's performance robust considering thecyber incident; Tesco's switching gains a little more resilientthan Sainsbury's.The following companies