Tesco store closures in the US

Tesco will close 12 of their Fresh & Easy stores in the US “due to weak local economies”.

However, Tesco are committed to the US brand and are aiming to break-even by the end of the 2012-13 financial year.  In fact, the world No.3 retailer are continuing to grow the presence in the states with plans to open 25 more stores by the end of March 2012.

Tesco said there was not enough growth in sales and customers at the 12 stores in California, Arizona and Nevada to justify keeping them open.

Tesco have had a rocky start to their US adventure which was launched in 2007. Initially the recession scuppered their rapid expansion plans. This was followed by 13 store closures in 2010. The group has also admitted to mistakes and has changed the stores to be less spartan and is also experimenting with a loyalty card and convenience store formats.

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