Tesco's US hopes go stale

Tesco's US hopes go stale

Tesco(TSCO) has announced plans to scrap its floundering Fresh & Easy business in the US on the back of consistently disappointing results. Chief executive Philip Clarke said the company was beginning a "strategic review" because the venture had not delivered acceptable shareholder returns in the right time frame. Third quarter like-for-like sales performance in the US dipped to 1.8 per cent.

To continue reading, register today

to enjoy limited access to the following:

  • Daily trading news
  • Funds coverage
  • Features on big investment themes
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Related topics

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now