Tesco plans to open 150 new convenience stores creating 2,000 new jobs
TESCO has revealed plans to open 150 new locations over the next three years in a convenience store blitz.
The Tesco Express expansion will create more than 2,000 jobs, while some stores will benefit from longer opening hours.
The majority of sites will run from 7am to 11pm, but the supermarket giant is aiming to have some open from 6am to midnight.
Kevin Tindall, managing director at Tesco UK, said the chain had signed leases for many of the new shops, but that they were looking at housing estates, new-build tower blocks and high streets with a lot of footfall.
The news came as Britain’s biggest grocer yesterday marked the 30th anniversary of Tesco Express by opening a shop in Burnt Oak, North London — on the same street the very first Tesco was set up in 1929.
Tesco this week cut prices on 200 everyday items such as bread, milk, and chicken in its Express stores, and continues to offer Clubcard discounts.
But it does not offer its Aldi Price Match in the convenience shops.
Critics including Which? have argued customers at smaller shops are disadvantaged by the higher prices.
But Mr Tindall explained that most smaller stores charge a premium as they are hit harder by costs, especially in London where rents are high.
And he said Tesco was continuing to create jobs despite the “challenges of extra costs from the Budget”.
There are now 2,074 Tesco Express stores and 808 larger superstores.
Rivals Sainsbury’s, Morrisons, and Asda have also committed to opening new locations.
A miniature giant
GAMES WORKSHOP, the maker of fantasy miniature figurines and the Warhammer franchise, is nudging its way into the FTSE 100 after its shares rocketed to a record high yesterday.
The niche hobby business is now valued at £4.5billion, more than B&M Bargains or Sports Direct owner Frasers Group.
Its shares yesterday rose 17 per cent to £137.90 each after a brief statement that its profits would beat forecasts of £120million.
Shares have risen by 38.5 per cent in the past year.
Good week, bad week
GOOD WEEK: RYAN McDonnell, boss of LIDL, the fastest-growing supermarket, which has returned to profit after the cost-of-living crisis.
BAD WEEK: ADRIAN Mardell, boss of JAGUAR, criticised for a ridiculous rebrand and its new advert that does not feature a car.