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08/01/2015
Tesco Withdraws New Store Plans
Tesco has withdrawn plans to create two new stores in Northern Ireland.
The announcement is part of a turnaround plan for the retail chain following a difficult year of falling sales and controversy.
Throughout the UK, the supermarket chain has confirmed it has dropped plans to open 49 new large stores. According to reports, two of these had been proposed for NI – a 15,000 sq ft premises in Carryduff, and a larger store in Armagh.
Elsewhere, Tesco has said it will close 43 "unprofitable" stores in the UK. The locations, which may affect the region, have yet to be revealed.
In a trading statement, Chief Executive Dave Lewis said: "In difficult circumstances the team has begun the challenging task of reinvigorating our business. There is more to do but we have taken the first important steps in the right direction.
"We have some very difficult changes to make. I am very conscious that the consequences of these changes are significant for all stakeholders in our business but we are facing the reality of the situation.
"Our recent performance gives us confidence that when we pull together and put the customer first we can deliver the right results."
(JP)
The announcement is part of a turnaround plan for the retail chain following a difficult year of falling sales and controversy.
Throughout the UK, the supermarket chain has confirmed it has dropped plans to open 49 new large stores. According to reports, two of these had been proposed for NI – a 15,000 sq ft premises in Carryduff, and a larger store in Armagh.
Elsewhere, Tesco has said it will close 43 "unprofitable" stores in the UK. The locations, which may affect the region, have yet to be revealed.
In a trading statement, Chief Executive Dave Lewis said: "In difficult circumstances the team has begun the challenging task of reinvigorating our business. There is more to do but we have taken the first important steps in the right direction.
"We have some very difficult changes to make. I am very conscious that the consequences of these changes are significant for all stakeholders in our business but we are facing the reality of the situation.
"Our recent performance gives us confidence that when we pull together and put the customer first we can deliver the right results."
(JP)
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Northern Ireland WeatherThis Evening and Tonight:West to northwest gale force winds, severe along the north coast, will continue overnight. Frequent showers persist, merging into longer periods of rain at times and turning wintry. Minimum temperature 1 °C.
