150 new Tesco Express stores to open
The supermarket group also announced an additional four superstores and three more Jack's discount stores across the UK
Tesco is planning to open 150 more Express stores around the UK over the next three years, upping its commitment to the convenience format and increasing its expansion rate.
The news was announced during the latest round of financial results released by the supermarket giant.
Figures for the first half of 2019/20 showed business remaining fairly static, with UK sales at £22.4bn, up 0.1%.
As well as the convenience store expansion, Tesco will be adding a further four superstores to the chain.
The group also pledged to have three more Jack’s discounters open by next February.
It said its online business was building a “more profitable, increasingly cash generative operating model”, and was aiming to double its capacity.
Tesco claimed Booker’s sales had grown by £700,000 since the merger.
In the results, the supermarket also announced the acquisition of Best Food Logistics, which supplies clients including Pret A Manger and KFC.
Describing it as a “strong” start to the year, and having said he had helped introduce all elements of its turnaround plan, chief executive Dave Lewis announced he will be standing down as group chief executive next summer, with Ken Murphy replacing him.
Read more: Tesco-Booker outline £200m savings strategy
This article doesn't have any comments yet, be the first!
Register to comment and get exclusive content and subscribe to the online and print versions of Retail News.Become a member