Chesthunt, England Further supporting its global-expansion strategy, Tesco plans to open stores in the Chinese provinces of Shandong and Fujian next year, according to a presentation on the grocer’s Web site. The move will give the grocer more breadth across the entire length of China’s eastern coast.
The supermarket chain currently operates 11 stores, including five hypermarkets in the capital of Shenyang, the tenth-largest city in China.
Looking ahead, Tesco is planning a “strong program” of store openings for 2009, according to the presentation. The chain, which already operates locations in the northeast province of Liaoning, plans to open stores in all 14 of Liaoning’s cities, the report said.
Tesco’s Chinese business has doubled since 2004, but it is still a small portion of corporate sales. The division reported 702 million pounds ($1.1 billion) in the fiscal year ended Feb. 23, out of a group total of 51.8 billion.