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

Tesco bags

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

LAST UPDATED AT 11:35 ON Thu 4 Oct 2012

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.
 · 

For further concise, balanced comment and analysis on the week's news, try The Week magazine. Subscribe today and get 6 issues completely free.

Read more about