Tesco is readying to launch of a new chain of discount stores as early as September, taking the battle to the likes of Aldi and Lidl.
According to retail insiders, Tesco may name the chain Jack’s after it was noted that a division of the grocery group had attempted to register the name as a retail trademark.
It was reported over the weekend that up to 60 stores could be launched by the UK’s biggest retailer.
The retailer is currently advertising for staff for a new format in Immingham, Lincolnshire and Chatteris, Cambridgeshire, as well as Wandsworth in South London.
Recent years have seen the likes of Aldi and Lidl – as well as discounters including B&M, Wilko and Poundland – steal sales from traditional chains such as Tesco. In 2014, Sainsbury’s partnered with the Danish chain Netto to launch a UK discounter, but the venture closed its 16 stores two years later.
Tesco last tried the discount route in the 1980s under the Victor Value brand, but the move was later abandoned for fear of undermining its main brand.
Lidl has been creeping deeper into the toy retail scene in recent months with the launch of its own range of bargain toys, with some lines selling for as little as 99p.