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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.

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