Tesco mulls launching ‘Finest’ stores in bid to double profit margins
Tesco has outlined plans to launch convenience stores stocked only with its Tesco Finest in a bid to increase profit targets.
The retailer laid out plans for these stores to investors and analysts at its Capital Markets Day yesterday and showed an illustration of a ‘Finest’ branded store selling its premium range, as well as a café according to the FT.
The grocer suggested to analysts that such stores could generate an estimated operating profit margin of around 7%, which is twice what the business is currently making.
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