UK retail giant Tesco has revealed a “multi-million” pound revamp of its meat, fish and poultry range as part of a GBP1bn (US$1.6bn) investment programme announced earlier this year.
The re-launch, unveiled yesterday (5 November), includes quality improvements across its beef, lamb, pork, chicken, fish, sausages, bacon, burgers and meatball products. Changes to the “look and feel” of the packaging are to follow over the next few weeks, the company said.
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The retailer said its Finest beef steaks and joints are now matured for 28 days and its Tesco brand range for 21 days. In addition, all Finest chicken is free range corn fed, and it has added more meat in its burgers and meatballs.
In April, Tesco revealed plans to revitalise its UK business. Of the group’s GBP1bn investment programme, GBP200m will be spent on employing more staff in existing stores and refreshing or refitting some 430 stores in 2012/13 – representing around 25% of its total UK space.
UK trading conditions have remained challenging for the retailer. At the release of the group’s first-half results last month, CEO Philip Clarke conceded that the trading environment “continued to be tough” across the whole of the UK market in the first half, with consumer confidence remaining at “very low levels”.
In the six months ended 25 August, Tesco reported a pre-tax profit drop of 11.6% to GBP1.66bn (US$2.68bn).
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By GlobalData
