Tesco Plans to Exit U.S. Fresh & Easy Chain: Hot Trends (Corrected)
NEW YORK (TheStreet) -- Popular searches on the Internet include Tesco
Tesco, the biggest retailer in Britain and the third-largest in the world, said it is reviewing its options for the struggling chain. The company said recently it has been approached by several potential buyers or partners in Fresh & Easy.
Tesco CEO Philip Clarke said, "It is now clear that Fresh & Easy will not deliver acceptable shareholder returns on an appropriate timeframe in its current form. Whilst the business has many positives, its journey to scale and acceptable returns will take too long relative to other opportunities."
Clarke added that all options are being considered -- including a sale, closure or partnership. Tesco has hired investment bank Greenhill to assist in its review of the chain.
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