Wednesday, 11 January 2012

Fresh & Easy closes more stores to lower losses

Tesco continues to struggle with its money-losing U.S. stores under the Fresh & Easy brand. The company is 'temporarily' closing another dozen stores, even as it opens additional outlets in more upmarket areas.

A Tesco spokesperson told The Guardian:

'At this time, there is simply not enough growth in sales and customers at these stores to keep them open.

'We will close these stores over the coming weeks and we will reopen them when economic and business conditions warrant...For every store we're closing temporarily, we are opening two'.


To move from losses to profits, the Fresh & Easy chain needs an estimated 300 U.S. stores. It is currently opening smaller shops. Tesco has said it wants this chain to achieve profitability during 2013. What's next for Fresh & Easy?