Tesco stays coy on plans for upmarket shop spin-off

Tesco is considering a trial of an upmarket convenience store under its ‘Tesco finest’ banner, but has not disclosed when or where a pilot will be launched.

Tesco hosted a capital markets day for analysts and investors earlier this week, 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%.