Tesco, Britain's biggest grocer, on Wednesday launched Jack's, a new discount format chain named after its founder, to better compete with German discounters Aldi and Lidl, which have been winning market share for a decade.
Tesco said the first two stores would open to the public on Thursday at Chatteris, Cambridgeshire, and at Immingham, Lincolnshire, both in eastern England.
A Variety Of Options
The Jack’s stores will be a mix of entirely new sites, sites adjacent to existing Tesco stores, and a small number of converted Tesco stores, the company said.
It will launch 10-15 Jack's stores in 2019.
The stores will sell around 2,600 products, Tesco's chief executive Dave Lewis said, 1,800 of which would be branded "Jack's", with eight out of 10 lines coming from Britain.
The new stores will stock some familiar grocery brands and a range of general merchandise on a “when it’s gone, it’s gone” basis.
News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.
