Speculation surrounds Tesco standalone store

Rebecca Hubbard
Posted: Friday, July 9, 2010 11:41 am

Speculation surrounds Tesco standalone store

Confusion is mounting as conflicting reports emerge regarding a possible flagship standalone clothes store for Tesco in London's West End.

Earlier today, reports surfaced that the retail giant was planning the opening of a F&F store in the area, with premises around the 6,000 sq ft mark.

The move by Tesco would challenge high street retailers such as Primark and Matalan, offering a wide range of clothes for different price ranges. It would be following other successes for the company, including the redesign of the store's online clothing offering last year, as well as the introduction of a Couture range in March this year, with 16 items priced up to £140.

Tesco consultant Terry Green was even quoted confirming the move, saying: "We're looking for a store in the West End as a flagship for F&F. It will be a one-off to showcase the brand and complement our online and supermarket offer."

However, there are now reports surfacing that the move is in fact not taking place, contrary to earlier reports. A spokesman for Tesco has said: "We're always looking for new development opportunities, but we have no specific plans for an F&F store in the UK", according to Dow Jones Newswires.

In the last financial year, Tesco has reported a 6.7% rise in UK profits to £2.4bn after revenue rose 4.2% to £43bn.