Tesco Ireland to invest €80m in new stores and store upgrades in 2023
Investment will be used to open eight new Express stores, implement significant upgrade projects for 50 stores, and maintenance across the store network
30 August 2023
Tesco Ireland has announced plans to spend €80 million this year on eight new store openings, extensive store refit and refurbishment upgrade programmes, and ongoing maintenance of its growing property portfolio.
According to Tesco, the significant expenditure figure underpins the group’s “continued strong commitment to the Irish retail market”. The investment will be used to open eight new Express stores, carry out significant upgrade projects for 50 stores, and for maintenance across the store network.
The details of the investment come as the retailer is set to open its 167th store on Scholarstown Road, at Two Oaks, Rathfarnham, in South Dublin on 7 September.
The Two Oaks Express store, based in a busy residential area, spans almost 2,000 square feet and will be led by store manager Stephen McGrane and a team of 12 colleagues.
In addition to Two Oaks in Rathfarnham, three more Express stores will open in Dublin by the end of the year, as well as other stores in Cork and Waterford. These new stores will create over 100 jobs in local communities, as well as internal role transfers for existing colleagues, and will also open up new management and career opportunities.
Tesco Ireland chief operating officer, Geoff Byrne, says the strong pipeline of store openings and refurbishments planned spells good news for customers.
“We have an ambitious development strategy for the business and are very excited to be expanding our Tesco Express model,” Byrne said. “We remain as committed as ever to delivering a rewarding shopping experience for our customers, which offers real value.
“Our Two Oaks store is the first of eight new stores we plan to open this year. Our Tesco Express model is proving very successful in urban settings and reflects evolving consumer demand for greater convenient shopping opportunities in high footfall areas.”
The retailer recently also rolled out its Clubcard Prices offering to Express format stores.