Report: Tesco Could Exit United States
July 03, 2012
U.K.-based Tesco PLC could exit the United States, according to the United Kingdom’s RetailWeek. The retailer’s Fresh & Easy Neighborhood stores debuted in the United States in 2007. According to the report, Tesco’s CEO Philip Clarke told shareholders at last week’s annual general meeting that the grocer would abandon its U.S. venture Fresh & Easy if it fails to become profitable. Tesco also revealed last month that it was selling its Japanese business.