4/18/2012 10:44:52 AM
Tesco Mobile plans retail assault for 2012
Tesco is increasing the number of its mobile phone stores by 10% this year, after reporting an 'excellent' 2011.
In its financial results released this morning, the supermarket giant said Tesco Mobile's customer base has increased to more than three million. It said it had 'particularly strong growth' in its pay monthly business, which was driven by its 'capped contracts' offer that ensures customers cannot exceed their monthly limits unless they top-up.
The supermarket said: 'Our in-store phone shops – we now have 240 – are now profitable and we are adding a further 24 this year.'
Also in the results, Tesco revealed a £1bn investment plan to boost its flagging UK business. Stores will be refurbished and it plans to create 20,000 jobs during the next two years. Profits in the UK business fell 1% to £2.5bn for the year ending 29 February. UK sales dropped 1.2% in the second half of its financial year.
Editor: Graeme Neill