Tesco set to launch new discount format next week [Reuters (UK)]
TESCO PLC S/ADR (TSCDY)
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Source: Reuters
Tesco set to launch new discount format next week | Reuters 3 Min Read LONDON (Reuters) - Tesco, Britain’s biggest supermarket group, is set to launch a new discount format next week, taking the fight directly to German discounters Aldi [ALDIEI.UL] and Lidl who have been winning market share for a decade. Tesco on Tuesday invited reporters to join Chief Executive Dave Lewis at its site at Chatteris in Cambridgeshire, eastern England, on Sept. 19. The site was mothballed in 2015. “We will be sharing some exciting news,” Tesco said in a statement without elaborating. An industry source told Reuters the plan was to launch a new format discount store. In July, Tesco advertised for staff for a “new store format” in Chatteris, seeking to recruit retail assistants, retail customer service assistants and retail managers. Media reports in July said Tesco was close to launching a chain of discount stores in Britain called “Jack’s” after Jack Cohen, who founded a business in 1919 that became Tes
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