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Daily Mirror
Daily Mirror
Business
James Andrews

Tesco plans to offer more bulk buys for customers as profits soar

Things are looking good for Tesco as it enjoyed its 100th birthday - pre-tax profit was up 28.8% at £1.67 billion, while revenue grew 11.2% to £63.9 billion.

Tesco chief executive Dave Lewis said he was delighted with the improvement across the business.  "We have restored our competitiveness for customers - including through the introduction of 'Exclusively at Tesco' - and rebuilt a sustainable base of profitability."

Over the year Tesco re-launched 10,000 own brand products and introduced eight new 'Exclusively at Tesco' brands.

The moves so far seem to have worked - with 149,000 more customers visiting Tesco this year.

And to get things moving even faster, it's planning on pushing ahead with two of its latest plans - bulk buys and budget chain Jack's.

Tesco employee reveals 11 things staff want to tell you - but they're not allowed  

Bulk buys coming to more Tescos

You might need a bigger trolley (PA)

Tesco splashed out £3.7billion to buy cash and carry firm Booker - it's now looking to bring bulk buys to more customers.

Tesco said it was looking at delivering faster growth through Booker as a key part of its strategy.

Currently Booker 'bulk buys' are available in 70 Tesco stores - but the supermarket announced plans to push that to more over the next year.

They're also looking for the brands to "join forces" - offering Booker customers "greater choice, lower prices and better quality" too.

 

More Jack's on the horizon

The launch of new store Jack's caused quite a stir late last year - as the discount brand launched with 1,800 new products at low prices.

Bread cost from 45p, loose bananas were 13p and six apples cost 77p. Ready made sandwiches start at 95p and baked beans from 29p.

The budget supermarket - designed to take on Aldi and Lidl - is now operating in 8 locations - but that's set to almost double.

Tesco revealed 71,000 square feet of new Jack's would be coming this year - working out at 7 new stores if they're the same size as the existing ones.

“After Tesco’s plans for international expansion took a stumble, it’s the UK that’s once again driving the business," said Ed Monk, associate director at Fidelity Personal Investing’s share dealing service.

"Tesco has to fend off both the cheaper discounter supermarkets and premium rivals too, and improved brand perception scores suggests it pulling it off.”

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