Tesco shutting series of city centre stores

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Thousands of Tesco jobs are thought to be at risk as Tesco begins closing a series of city centre stores.

According to a report from The Times, industry insiders believe Tesco is planning to close up to 30 poorly performing Metro stores and to convert a further 60, although Tesco has not confirmed those figures.

The move comes as Tesco chief executive Dave Lewis looks to cut costs to boost profit margins.

Lewis has set a target of improving margins up from 2.9 per cent last year to between 3.5 per cent and four per cent in 2020.

Staff at Metro outlets in Lancashire, Manchester and Liverpool have been told their stores are closing, with the average Metro employing 75 people.

The supermarket giant is just days away from unveiling its new discount player Jack’s, at Chatteris near Cambridge.

It’s thought former Tesco Metro stores will be converted into the new brand, enabling the supermarket to grow a value retail competitor at a much faster rate than establishing completely new stores.

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12 COMMENTS

  1. Convert all the stores into jacks and keep the staff, after all those wotking in the city love a bargin and somewere to buy there lunch with out breaking the bank

  2. I hardly go to tesco anymore to much of money grabbing company shop somewhere else and I have noticed the difference in price and brand best move I made from tesco .

  3. I think jack’s is a great concept and goes back to our roots.after 28 years in Tesco you have to adapt and move with the times and focus on what the customer wants.its good have a leader making the right bit tough choices.

  4. Every time I go into my local Tesco most of the lights are off down many isles and you can’t see what you are buying, so give up and go to Aldi

  5. Why does Tesco need a special brand in order to offer low prices?
    Here’s a radical idea; cut prices in ALL your stores. Proper price cuts, not the phoney “we put the prices up for 28 days so that we could bring them down again, to pretend the price had been cut” scam.
    Honesty is very rare these days, so why not lead the way, Tesco?

  6. I work for tesco, however how it seems to me is closing the metro format is not the way to go. Most metros don’t have parking facilities and are used by those who take buses, the elderly and those that work within walking distance. It seems to me they need to focus of store that can offer the same service as the discount brands and allow for the same facilities they offer

  7. Tesco, like many other former successful retailers, have just not grasped a changing market. They have milked an old recipe for all its worth, now…they haven’t a clue of the road map ahead. They are scrabbling around in the dark, while other’s will fill their shoes. Rip Tesco.

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