LONDON (Reuters) – Tesco <TSCO.L>, 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.
“We will be sharing some exciting news,” it said.
A spokesman for Tesco declined to comment further.
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 Tesco.
The reports said Tesco could convert up to 60 existing outlets.
(Reporting by James Davey; editing by Jason Neely)