Tesco believed to be opening discount chain

Tesco is understood to be launching a new store format to compete with discounters such as Aldi and Lidl.

The retailer has recently trademarked the name Jack’s – a nod to Tesco founder Jack Cohen – and it has been advertising for various roles at a ‘new store format’, according to an article in last weekend's Telegraph.

It states that some 30-60 stores are expected to open by September, some of which will be converted from Tesco’s current branches.

Carrefour and Tesco today confirmed that their long-term, strategic alliance has formally begun and will become operational in October.

More information will follow.

Source : Insight DIY Team

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter.