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Tesco Reduce the Number of 24 Hour Superstores

TescoIn a new attempt to save more money Tesco one of the largest supermarket chains in the UK has announced that they are going to cease offering 24 hour opening times at some of their superstores across Great Britain.

Twenty four hour shopping has been a godsend for many people as it enables them to shop in a quiet environment and enables people working unsociable shifts to be able to do their big weekly shop at a time that suits their work schedule.

In the last twelve weeks, despite the appointment of a new boss, Tesco has continued to make continued losses and whilst not all of the Tesco Extra supermarkets will cease opening 24 hours a day several of them, those being the ones which see low volumes of customers overnight, will be closing from midnight until 6am the following day.

Whilst it is hoped not many job losses will be announced due to this new opening time strategy with Tesco saying that many of the staff who work overnight will continue to be employed stocking shelves and preparing deliveries, there may be some job losses which has angered unions.

In fact another major UK based supermarket chain that being Morrisons have also announced some major changes to the way they operate and they have chosen to cease operating their convenience stores which will see some 150 of them being transferred to a new owner.

It is the smaller yet growing rapidly budget supermarkets that are the reason both Tesco’s and Morrisons are suffering with Aldi and Lidl both announcing rapid expansions to their store network in the months ahead.

This information is going to be of use to you if you are a Binary Options trader as it is highly unlikely that both Tesco’s and Morrisons are going to see a sharp turnaround in their fortunes in the very near future and as such you should base your retail based trades accordingly.

With the summer months now over in the UK many retailers are gearing up for their busiest time of the year that being the Christmas period and it is going to be a battle to the death for most retailers, and you can expect many of them to start launching their winter and Christmas lines much earlier
than usual this year in the hope they get a bigger share of that very valuable trading period.

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