Tesco calls a halt to expansion in US following fall in profits

Oct 4, 2012

Tesco will end year with 200 of its American Fresh & Easy stores instead of the 230 initially planned

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After reporting its first fall in profits since 1994, Tesco has announced it will stop expanding its struggling US operations while it attempts to drive its existing stores, branded Fresh & Easy, into profit. The decision means its will end the year with 200 stores - not the 230 initially planned in the US. The chain, which was opened in 2007, has lost £74m in the last six months, says The Daily Telegraph.

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