Tesco Looks Set To Put Fresh & Easy On The BlockDecember 6, 2012
Tesco has moved a step closer to pulling the plug on its struggling Fresh & Easy retail concept in the U.S. Tesco CEO Philip Clarke said yesterday he had ordered a strategic review of Fresh & Easy and has already been approached by potential buyers.
“It’s likely, but not certain, that our presence in America will come to an end,” Clarke said. “It is now clear that Fresh & Easy will not deliver acceptable shareholder returns on an appropriate time frame in its current form,” Tesco added.
Fresh & Easy, which stocks more than 450 wines from $1.99 to $40 a bottle, lost about $115 million in the first half of 2012. The chain currently has 165 locations in California and 35 across Nevada and Arizona.
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Tagged : retail