Fitch comments on Tesco plan

Fitch Ratings said Tesco plc's plan to create 20,000 new jobs and revamp stores should help the retailer lure back some shoppers from rivals and slow the recent decline in its U.K. market share.

However, other mid-market retailers such as Sainsbury's have also invested heavily in recent years, and Tesco (A-/stable) will have to further adjust prices and services to keep its market dominance at close to the current level, the agency said.

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