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Tesco to debut F&F apparel format in U.S., with seven stores by year-end
New York -- Tesco Plc plans to bring its value-priced F&F clothing format to the United States, opening seven stores on the East Coast this year with its U.S. franchise partner, Retail Group of America. The move comes some six months after Tesco sold off its struggling American supermarket operation, Fresh & Easy, to Ron Burkle's Yucaipa investment company.
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99 Cents Only net loss widens in fiscal 2014
City of Commerce, Calif. – 99 Cents Only Stores LLC reported a widening net loss in an abbreviated 10-month fiscal 2014 which was shortened from the Saturday closest to the end of March to the Friday closest to the end of January. Net loss grew to $12.48 million from $8.9 million.
Total net sales were $1.53 billion, down 8% from $1.66 billion. Same-store sales rose 3.7%.