Anticipation of the unveiling of Tesco’s strategic blueprint next Wednesday has attracted further national press coverage.
The blueprint is expected to include a slowdown in UK store expansion, particularly when it comes to bigger outlets. Where new sites are opened, they are expected to be smaller shops. Some of the savings from opening fewer outlets are expected to be spent on revamping the existing estate. Nomura said it expected chief executive Philip Clarke to signal a “phased reduction” in its rate of UK space growth.The Times notes that demand for space and good retail parks is still healthy and there is strong competition between the big supermarkets for the best high street sites for convenience stores. However, the newspaper says the outlook for less attractive town centre shops is dismal and rents still have a long way to fall.
14/04/12 Financial Times 16
Times 45
Daily Telegraph 29
Independent 50, 51
Guardian 33
