Tesco has been named Britain's most valuable retail brand in a report released by consultancy firm Intangible Business.

Speaking about the results of the report, Intangible's managing director said that the importance of having a valuable brand was increasing, especially as customers begin to need more reasons to buy than just desire.

Rival Sainsbury's and Marks & Spencer took second and third places respectively. John Lewis also did well in the report.

Source: Retail Week