Last year, Tesco, which employs 440,000 people, reported profits of £1.3bn with sales of £57.5bn. Tesco is planning a mystery format for a new store believed to be aimed at tackling competition from Aldi and Lidl, which have 14% of the market, and Amazon’s move into food retailing. The shops will be in London, Cambridgeshire and Lincolnshire and reports have suggested they will be called Jack’s after Tesco founder Jack Cohen. Job ads for the new chain say it will be operated separately from the main Tesco business. Earlier this year Tesco joined forces with French retailer Carrefour to share buying power to cut costs and prices. Tesco’s chief executive, Dave Lewis, said: “We are delighted that we can offer our customers more choice than ever before when shopping online.
Tesco is planning a mystery format for a new store believed to be aimed at tackling competition from Aldi and Lidl, which have 14% of the market, and Amazon’s move into food retailing. The shops will be in London, Cambridgeshire and Lincolnshire and reports have suggested they will be called Jack’s after Tesco founder Jack Cohen. Job ads for the new chain say it will be operated separately from the main Tesco business. Earlier this year Tesco joined forces with French retailer Carrefour to share buying power to cut costs and prices. Tesco’s chief executive, Dave Lewis, said: “We are delighted that we can offer our customers more choice than ever before when shopping online.