Shares in supermarkets have fallen sharply after Tesco said it was considering plans for a new chain of high-end convenience stores. The market reaction came after Tesco chief executive Dave Lewis unveiled the Finest stores plan to analysts and investors on Tuesday. Speaking on Wednesday, Mr Lewis said: "Tesco Finest as a brand is one of the largest food brands in the country. We have a very high percentage of more upmarket customers. "The opportunity to curate that range and bring new things in a more convenient outlet is something that we have tested, is something we're interested in." But while Tesco mulls the possibility of high-end outlets to compete with the likes of M&S's Simply Food stores, there appears to be a question mark over the future of Jack's, which was designed to take on discount retailers Lidl and Aldi. Tesco has not announced any plans for adding to Jack's nine stores. Since the discount chain opened its first outlets in September last year, it has sold £24m of products.
