Tesco plans phone shop expansion

Supermarket giant Tesco is aiming to take on Carphone Warehouse by doubling the number of in-store phone shops to “around 100” by next March.

The retailer revealed its plans for its recently re-branded phone shops this weekend following setting a target of achieving £1bn annual profits from retails services arms such as banking and telecoms.

Last month it announced it planned to open bank branches in 30 of its stores by the end of 2009 as part of this drive.

The supermarket began briefing on future expansion plans over the weekend ahead of posting its annual profits, expected to appear tomorrow (Tuesday April 21) showing record profits of over £3bn.

The mobile retail sector appears to have held-up amid the high street sales gloom relatively well, with Carphone Warehouse posting retail sales in Europe to £1.01bn over the Christmas trading period.

However, US rival Bestbuy recently announced it was postponing its UK expansion plans in partnership with Carphone Warehouse until next spring as it grapples with freefalling sales in its home market.

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