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.
Tesco PLC, the Britain’s largest retailer, has reported a 12 percent fall in half-year pretax profit to $2.7 billion, or £1.7 billion as downturn in Asia and Europe balanced rising sales in the U.K. The Tesco fall in the profit is its first fall in nearly two decades. The U.K. sales have started rising after 18 months.