Fresh & Easy
Multinational grocery retailers demonstrated a various different strategies to grow their sales and expand their consumer reach over the pas...
The convenience channel has become a source of growth for larger grocers in a number of markets. Even in the US, home of the big-box store,...
Ron Burkle, the US billionaire investor who is to take on the bulk of Tesco's US Fresh & Easy arm, has said he believes the loss-making business gives his Yucaipa fund a base upon which to build. But it is not yet clear what his plans are. Dean Best looks at what could be next.
After six years of losses, there will be a sense of relief that Tesco has secured a deal to exit the US. However, the agreement with Yucaipa provides a suitable closing chapter for the failed foray.
Confirmation that Tesco is in joint venture talks with China Resources Enterprise highlights a mounting trend in the FMCG sector. International companies eyeing growth in the rapidly expanding Chinese market are seeking out local joint venture partners. If Tesco's negotiations with CRE prove successful, a stronger business will emerge, Katy Askew suggests
Tesco's first-quarter trading update contained a fall in UK underlying sales - and lower in LFLs in all but two of the 11 markets it now reports on. The City suggested the numbers showed Tesco has lost momentum and was facing challenges at home and abroad. Shares in the retailer were down more than 4%.
Wal-Mart has announced a notable push into the US organic food category with plans to list a range of products under the recently-revived Wild Oats brand.
Tesco's US venture Fresh & Easy has filed for Chapter 11 bankruptcy as part of its agreement to sell part" of its business to investment fund Yucaipa.
Danone was this week under scrutiny in China amid claims local staff bribed hospitals to promote its baby food products in the country. The allegations are the latest blow to the reputation of Western firms in China following price fixing on formula and the Fonterra botulism saga. The stories will not harm the reputation of China's dairies and, this week, one processor, China Huishan Dairy Holdings Co., launched a successful IPO in Hong Kong.
Tesco grabbed the headlines last week after signing an agreement with Yucaipa for its US stores, bringing an end to its failed venture across the Atlantic. Amongst other retailers, Morrisons insisted the "space race" among major UK grocers was "well and truly over" as it released its latest sales and earnings figures. Elsewhere, just-food spoke with Boulder Brands CEO Stephen Hughes about its buoyant gluten-free business. Here is a selection of quotes from last week's news and insight.
Tesco finally drew a line under its failure in the US with a deal to offload its Fresh & Easy business to investment fund Yucaipa. The detail of the agreement, however, was a rather apt way to end the venture. UK rival Morrisons announced lower half-year sales and profits but a capex cut cheered the City. Elsewhere, we analysed New Zealand's attempt to restore the reputation of its dairy industry after the Fonterra botulism saga, while we interviewed the CEO of US gluten-free firm Boulder Brands.
Tesco has confirmed it has agreed to sell a "substantive part" of its US Fresh & Easy business to investment fund Yucaipa.
Tesco is reportedly set to agree a deal to sell the bulk of its Fresh & Easy operations in the US to Yucaipa, the investment vehicle of billionaire Ron Burkle.
Discount grocer Aldi has confirmed it is in the "initial stages" of expanding its US operations into California.
US billionaire investor Ron Burkle is reportedly in discussions to buy Tesco's US chain Fresh & Easy.
Fresh & Easy, Tesco's up-for-sale US business, has launched a raft of products for targeted at lunch and dinner.
The industry's first-quarter results continued to pour in last week and two of France's leading retailers, Carrefour and Casino revealed sales figures that got analysts talking. Carrefour appeared pleased with its domestic performance, while Casino was encouraged by the results of recent pricing initiatives. Elsewhere, Tesco finally confirmed its plans to exit the US and revealed it had received and was pursuing interest in the business.
Major food manufacturers began to report their first-quarter results last week. Nestle came under scrutiny for its performance in emerging markets. A cautious Danone saw signs of improvement from its European dairy operations, while its infant formula business was buoyant. Elsewhere, we shone the spotlight on the recent rationing of formula in Western markets amid high demand in China, looked at Marks and Spencer's latest European venture and analysed Magnit's move to Russian retail's top spot.
Tesco's shares slid 3.6% this morning (17 April) after the UK's largest retailer revealed a drop in annual profits and confirmed it will exit the US. The group did, however, sound an upbeat note on the performance of its domestic business, which saw sales increased by 1.8% and reiterated its commitment to becoming "the best multichannel retailer". Here, analysts give relatively positive opinions on today's trading update.
Tesco saw its shares slide this morning (17 April) as the UK's largest retailer revealed a drop in annual profits and confirmed it will exit the US.
Tesco has remained tight-lipped over reports it is in talks with potential buyers over the sale of is US Fresh & Easy chain.
Tesco has cut jobs at the head office of Fresh & Easy, as it continues a strategic review that could lead to the firm's exit from the struggling US grocery chain.
UK retailer Tesco reported an increase in underlying UK sales today (10 January) as it named Chris Bush as head of its domestic operations.
Tesco has expanded the range of foods available under its eatwell line at Fresh & Easy stores in the US, even as the retailer considers selling the struggling unit.
It's the time of the year when we look back at the 12 months just past to see what was getting you clicking on just-food. The ten most-read news stories of 2012 include UK grocers signing a code of conduct on promos and Tesco announcing it would put traffic-light labels on its food in the UK. Tesco's likely exit from the US also proved popular, as did a series of M&A stories, including major deals by Hain Celestial, R&R Ice Cream and Hershey.
UK retail giant Tesco is understood to be looking at expanding further into India just days after announcing a review and potential exit from its troubled US venture.
Tesco CEO Philip Clarke today (5 December) insisted the UK retailer had given its US chain Fresh & Easy "our best shot" as he outlined plans to possibly sell the business.
Tesco is "likely" to quit the US, CEO Philip Clarke admitted today (5 December), after the UK's largest retailer confirmed it is reviewing its options for its Fresh & Easy business in the country.
Tesco, which looks set to leave the US market, today (5 December) announced improving underlying UK sales as investments appear to be starting to pay off for the UK's largest retailer.
Almost seven years since Tesco first announced its plan to enter the US, the UK retailer has today (5 December) it is "likely" to quit market. Tesco said it would take too long for its Fresh & Easy chain to reach the "scale and profitability it needs". Here, just-food, looks at the ups and downs, the optimism about and the criticism of, Tesco's US venture.
Tesco has finally drawn a line under its failed US venture with the announcement the sale of much of its business in the market has been sold.
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