UK’s biggest supermarket group Tesco is set to unveil its new discount chain next week, according to latest reports.
The speculation began when Tesco invited reporters to join Chief Executive Dave Lewis at its site in Cambridgeshire today where it said: “We will be sharing some exciting news”. The spokesman for Tesco declined to comment further.
The first of the new stores could be called Jack’s, after Tesco founder Jack Cohen, analysts believe.
Rumours have been circling about Tesco developing a discount chain since it promised shareholders earlier this year that it would “develop new formats to better serve customers”.
In July, Tesco had also advertised for retail assistants, retail customer service assistants and retail managers for a “new store format” in Chatteris.