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Report: Tesco could exit U.S. if Fresh & Easy doesn’t improve
New York -- U.K. retailing giant Tesco PLC could give up its American supermarket venture, Fresh & Easy Neighborhood Market, if the chain continues to disappoint and not make a profit, RetailWeek and other British news organizations reported.
In remarks at the company’s annual meeting on Friday, Tesco CEO Philip Clarke said: “If we see there is no chance of success, we’ll do as we’ve just done in Japan,” referring to Tesco’s deal this month to exit that market.
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Two Great Retail Lessons: One Positive, The Other Not So Good
By Robert Gordman, president, The Gordman Group
(Editor’s Note: Retail consultant Bob Gordman offers some interesting insights into what he calls “two of the most dramatically opposite” retail case studies in recent years: lululemon athletica and J.C. Penney Co.)