Tesco to launch new discount store chain in East of England
PUBLISHED: 09:06 19 September 2018 | UPDATED: 10:57 19 September 2018
Tesco is to launch a new discount store format in the East of England.
The UK’s biggest retailer will be opening its first Jack’s store today as it brings the fight to German discounters Aldi and Lidl.
Chief executive Dave Lewis will be at the launch even at the site in Chatteris, Cambridgeshire today (Wednesday).
In a statement the company simply said it would be “sharing some exciting news” after earlier advertisements for staff for a “new store format” in Chatteris.
It was reported in July that 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 Tesco.
The Chatteris store will be the first to open under the new brand.
Tesco is Britain’s grocery market leader with a share of 27.4%, while Aldi and Lidl have increased their combined share to 13.1%, according to the latest data from Kantar Worldpanel.