old

tescoHomeplusRetail giant Tesco’s decision to close 43 stores nationwide will have a major impact on physical store space devoted to furniture and other Home category lines.


The UK’s largest retailer announced the stores closures yesterday — part of a plan to save £250m a year — by shuttering unprofitable stores.


Six of the 43 stores to close are Homeplus units, representing a sizeable proportion of its dedicated non-food store offer.


Tesco is thought to have only 12 Homeplus stores across the UK in all, meaning it is effectively closing half the estate.


Homeplus stores to close — scheduled to take place by mid-March — include shops at Fort Kinnaird in Edinburgh, Chelmsford, Chester, Southampton, Staines and Bristol Cribbs.


Tesco’s other Bristol Homeplus store — at the Imperial Retail Park — is thought to be unaffected, as are stores at Preston, Nottingham, Denton, Bracknell and Wirral Bromborough.


The grocer’s Homeplus stores carry a significant home and furniture offer, in addition to apparel and electrical goods. It also sells furniture online through its Direct business.



TO READ THE FULL STORY: