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Tesco Pulls Plug On U.S. Operations

December 5, 2012: 12:00 AM EST
British grocery and general merchandise retailer Tesco has decided that five years of unprofitability is enough for its U.S. supermarket operations: it is pulling the plug on Fresh & Easy. The company said it thoroughly reviewed the prospects of Fresh & Easy and felt it would never deliver an acceptable return on investment. The company is looking at several options, including purchase offers. Tesco also announced that Fresh & Easy CEO Tim Mason, a 30-year veteran of the company, is leaving.
"Tesco announces strategic review of Fresh & Easy", Tesco, December 05, 2012, © Tesco
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