Tesco Suffers in the Us As Fresh & Easy Goes Stale

Evening Standard - London › April 21, 2009

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Summary

TESCO posted annual profits of Pounds 3 billion today but was forced to admit that its ambition to conquer America may take much longer than hoped.

The supermarket juggernaut saw sales for the year to the end of February rise 13.5% to Pounds 59.4 billion as it shrugged off suggestions that its grip on the UK grocery industry is loosening.

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Extract

Tesco Suffers in the Us As Fresh & Easy Goes Stale

But it was forced to eat humble-pie in the US, where its Fresh & Easy stores have racked up much higher losses than it has previ...

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