Tesco Considering All Options for Fresh & Easy
It appears as though The Times of London had it right. Back in 2007, when Tesco opened its first Fresh & Easy concept stores in the U.S., the paper ran a story with the headline: "Tesco in the US? It’ll Never Work."
Yesterday, The Telegraph reported that Tesco is launching a "strategic review" of its American business unit that may lead to a sale, a joint venture or even a closure of the chain altogether. The report says it is unlikely Fresh & Easy will move forward as-is.
The chain has failed to turn a profit since being launched a little over five years ago. In October, Tesco CEO Philip Clarke told Reuters, "Fresh & Easy needs to be able to demonstrate it can be a positive return for shareholders."
- Tesco could close US venture as strategic review launched – The Telegraph
- Tesco Sets Review of Its Fresh and Easy Operation in U.S. – Dow Jones Newswire/The Wall Street Journal
- Tesco halts sales slide at great cost while rivals gain – Reuters
- Tesco’s Fresh & Easy Opens for Business – RetailWire
Where did Tesco go wrong with Fresh & Easy? What would you do with the chain if the decision was yours to make?