Tesco has revealed plans to nearly double its selling space in Central and Eastern Europe over the next five years.
The company said today (23 November) that it is aiming to have 4.1m square metres of selling space in its Central and Eastern European stores by 2014/15, up from around 2.2m square metres.
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With outlets in Poland, the Czech Republic, Hungary, Slovakia and Turkey, Tesco said it will work on expanding its multi-format strategy with plans to drive growth from its Express convenience stores, compact hypermarket and hypermarket formats.
“Our experience tells us that if we give customers the opportunity to shop in multiple formats, we will achieve higher market penetration, increased loyalty and greater brand reach,” Tesco told analysts.
Tesco is working to refresh its hypermarkets, with at least one store in each country being refitted. It has extended the range in these stores with some 5,000 new SKUs, worked to improve availability through improving supply chain, improved service through increased staff and introduced standardised layouts, fixtures and fittings.
In one store in Petrzalka, Slovakia, which was refitted in April, it has reported 20% more customers, 26% like-for like sales growth, a 5% higher basket spend and improved margins.
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