US: Fresh & Easy bets big on Las Vegas
By: just-food.com | 18 April 2008
Fresh & Easy, the US arm of Tesco, has today (18 April) unveiled plans to open an additional ten stores in Las Vegas.
The announcement comes just three weeks after Tesco said it was putting the brakes on its US expansion plans amid the economic slowdown in the country.
Currently, Tesco operates 11 convenience-style stores in the Las Vegas area and the company said it is continuing to look for additional sites and build more stores throughout California, Nevada and Arizona.
"With every week, we continue to secure additional sites and build more stores," said Tim Mason, Fresh & Easy CEO.
"We have been extremely encouraged by the response from our customers. Fresh & Easy sales are ahead of budget and we continue to trend upwards in every market."
On Tuesday, when Tesco delivered its annual results, the group shrugged off recent criticism of its US business and reported that Fresh & Easy sales were ahead of budget.
The company said it was "encouraged" by the start its recently-launched US venture had made, highlighting strong fresh food and own-brand sales.
Sectors: Retail
Companies: Tesco, Fresh & Easy
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There is currently 1 comment on this article
I see the "pause" didn't last too long, then.
Tesco should push on with the roll-out. Sure there have been early problems to iron out but what new business doesn't suffer from those?
Look, Wal-Mart and Safeway have indicated they may open smaller-format stores, so it is clear Fresh & Easy has shaken up the market a bit.
Pieceofcake said at 1:24 pm, April 18, 2008
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