Supermarket giant opened just 10 discount chain stores, with job cuts and sales of £24m
When Tesco unveiled its discount chain Jack’s a year ago, hopes were high that it could pose a serious threat to Aldi and Lidl. A year on, fewer stores than expected have opened and recent job losses have raised questions about its success.
At the media circus that greeted the first store in the small Cambridgeshire town of Chatteris in September 2018, the Tesco boss, Dave Lewis, said 10-15 Jack’s stores would open within six months. But ahead of Friday’s first anniversary, the figure is 10 and last month there were staff cuts at the store in Immingham, Lincolnshire, one of the first to open. At an investor event in June, Tesco revealed Jack’s had generated sales of £24m – which experts think is disappointing.Continue reading... Read The Rest at :