, TESCO announces new plans to exit US market
Apparently, the days for Fresh & Easy, TESCO’s foray in the US, are numbered; so are the present operations for many of the TESCO’s own outlets across the UK and Europe. While at one end, issues such as a horsemeat scandal and stiff competition by stores such as Aldi are adding to the retailer’s problems, analysts in the retail space industry say that TESCO Plc is grappling with ‘multidimensional problems.’ But that is not it as TESCO Plc has struggled in the overseas market as well.
, Clarke to announce Tesco’s withdrawal from US market
On 5th of December, Philip Clarke, chief executive officer at Tesco PLC, is expected to announce the company’s withdrawal from the US market. The decision comes as Tesco PLC struggles with its loss-making operations. The third-quarter results, which are also to be announced on the 5th of December, are speculated to be a prelude to the new strategy aimed at boosting Tesco PLC’s operations.
