EMCC European Monitoring Centre on Change

Tesco

Company/Organisation:
Tesco

Geographic Location

Country: United Kingdom

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
47.1 - Retail sale in non-specialised stores

Employment Effects

Announcement Date: 19-09-2005
Type of Restructuring: Business expansion
Employment Effect Start: 01-10-2005
Planned Job Creation: 7500

Additional Information

Tesco is to outline plans to create almost 7,500 jobs across Britain as it expands its non-food offering. The company is opening its first non-food store - Tesco Homeplus - in Manchester in October 2005 and is hoping to further expand its business in areas other than food as it tries to grab an ever larger share of consumer spending. Tesco will expand its range across consumer electrical items such as DVDs, home furnishings and clothing. Tesco has amassed a land bank of 185 further development sites across the country, significantly larger than any of its rivals. The Sunday Times reported that building stores on these sites could take the company's share of the market to 45% and described the land bank as a 'secret plan' to 'dominate Britain'.