Tesco is investing £50m in rebranding and refurbishing high street stores in the first phase of expansion for its Metro portfolio from 40 to more than 150 by 2003. It expects to have 62 operating by April 2001. The second phase will involve acquiring new sites and may include closing and relocating existing town centre stores. "We have to make sure we are in the most profitable location," said a spokesman. The company is selling its Aberdeen and Preston Metro stores and has already closed a store in Leicester but said that the format was working everywhere. "We received an offer for these stores that was too advantageous to be ignored," the spokesman said. "It is quite likely we will be back in those areas soon though." The Metro format is aimed at busy workers who want top-up shopping. {{NEWS }}