CHATTERIS, England (Reuters) – Tesco <TSCO.L>, Britain’s biggest grocer, on Wednesday launched Jack’s, a new discount format chain named after its founder, to better compete with German discounters Aldi and Lidl, which have been winning market share for a decade.
Tesco said the first two stores would open to the public on Thursday at Chatteris, Cambridgeshire, and at Immingham, Lincolnshire, both in eastern England. It will launch 10-15 Jack’s stores in 2019.
The Jack’s stores would sell 2,600 products, Tesco’s chief executive Dave Lewis said, 1,800 of which would be branded “Jack’s”, with eight out of 10 lines coming from Britain.
(Reporting by James Davey, Writing by Sarah Young, Editing by Paul Sandle)