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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Tesco Plc | LSE:TSCO | London | Ordinary Share | GB00BLGZ9862 | ORD 6 1/3P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1.50 | -0.50% | 298.30 | 298.00 | 298.20 | 300.80 | 297.70 | 300.20 | 11,224,378 | 16:35:08 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Grocery Stores | 68.9B | 1.19B | 0.1670 | 17.85 | 21.2B |
From May 2021 to May 2024
By Adriano Marchese
Tesco PLC said Tuesday that it will drop the Metro format and rebrand its stores across the U.K. to adapt to its customers' shopping habits.
The British grocer said that the Metro format, originally intended for larger, weekly shopping runs, will be scrapped in favor of its express and superstore categories.
Tesco said that 89 of its current Metro stores will rebrand as Tesco Express, while the remaining 58 Metro stores will have their signage changed to Tesco Superstores.
The company originally designed these stores with the idea of catering to customers' larger, weekly shopping routines. However, nearly 70% of its customers have been using them as convenience stores, buying food for that day.
"Over the last few years, we have seen our customers' shopping habits change and we have taken the decision to re-brand all of our Metro stores to better reflect this," a Tesco spokesperson said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
May 18, 2021 11:22 ET (15:22 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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