Tesco, Britain's biggest retailer, said it is considering trialing an upmarket convenience store under the 'Tesco finest' banner but has not disclosed when a pilot would start.
On Tuesday Tesco hosted a Capital Markets Day (CMD) for analysts and investors at which it presented a slide flagging an opportunity for a 'Tesco finest' store concept with a 7% operating margin - significantly ahead of the group wide target of 3.5% to 4%.
'Most Expensive' Range
The 'finest' range of grocery products is Tesco's most expensive.
"'Tesco finest' as a brand is one of the largest food brands in the country. We have a very high percentage of more upmarket customers," Chief Executive Dave Lewis told reporters on Wednesday.
"The opportunity to curate that range and bring new things in a more convenient outlet is something that we have tested, is something we're interested in."
But Lewis said Tesco is: "Not at a place where we are saying we're going to open this shop or this many shops."
The CEO said the point of the CMD was to share with investors a number of possible growth opportunities Tesco is actively looking at without giving specific details on timing.
"No dates for any of the initiatives were given yesterday," he said.
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