Tesco jacks up ideas

Tesco could use its own-brand fresh produce range as a weapon in a rumoured new chain. Reports suggest Britain’s biggest retailer could launch a new venture – under the name Jack’s – as early as September, involving up to 60 stores.

But Bruno Monteyne, an analyst at City firm Bernstein, reckons the new chain won’t go head-to-head with discounters Aldi and Lidl.

He said: “It will target the same price points and quality but will bring unique ranges and services.” Part of that could be Tesco’s Farm Brands, which has nearly 300 products, he said.

But Clive Black, of Shore Capital, reckons Tesco, under boss Dave Lewis, has a lot on its plate. “There is plenty going on at Tesco at the moment,” said Black. Tesco refused to comment.