Tesco to launch discount store format called Jack's

Dave Lewis Tesco Group Chief Executive

Tesco confirmed predictions that the new brand will operate a low-priced business model, with stores offering a much smaller range of products than the parent brand (2,600 in Jack's compared to 35,000 in a similar sized Tesco store) and will be kitted out with very basic fixtures and fittings.

Tesco is Britain's grocery market leader with a share of 27.4%, while Aldi and Lidl have increased their combined share to 13.1%, according to the Kantar Worldpanel data. Around 1,800 products will be under the Jack's brand. Some items did seem cheaper in Jack's: olives were 10p cheaper and Cherry Bakewell box 30p cheaper than in Tesco.

Dave Lewis, chief executive of Tesco, opening the new Jack's store in Chatteris.

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Jack's - a salute to Tesco's founder Jack Cohen - aims to be a no-frills discount brand to challenge the meteoric rise in market share enjoyed by Aldi and Lidl since the financial crisis.

Tesco, Sainsbury's, Asda and Morrisons have all been forced to slash costs and close unprofitable stores to fund price cuts on everyday essentials where competition from discounters is heaviest.

He insisted he was not anxious about undercutting existing Tesco stores.

Tesco boss Dave Lewis said the prices will be "the cheapest in town" at each location.

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Unlike Tesco, Jack's will not have an online offering and customers will not be able to use their Tesco clubcard in the stores.

Jack's stores will be low-cost, no frills or added extras with a simplified range of quality products at low prices.

That would help shield prices from the Brexit-hit pound, which has made imports more expensive.

Pauline Foulkes, Usdaw National Officer, said: "Tesco have today announced the launch of a new store format, as part of their response to a challenging and highly competitive retail sector".

"Jack Cohen championed value for customers and changed the face of British shopping", said Lewis.

"He's an inspiration for all of us and that same spirit still drives Tesco now". Their growth continues to far outpace traditional supermarkets.

"It lets Tesco take the fight to the discounters on a level playing field - no need to dilute margins at core Tesco, just offer something different to the more value-conscious customers".

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