Tesco has sold 22 stores in the Czech Republic to local food retailer Hruska.
“We have agreed to sell 22 small stores in northern Moravia to Hruska,” a Tesco spokesperson told just-food (20 December).
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The UK retail giant said the outlets were acquired when it snapped up the Czech chains Zabka and Koruna from Slovak financial group Zabka in 2011.
Financial details were not disclosed as the transaction is subject to the approval of the Czech competition authorities.
Tesco started trading in the Czech Republic in 1996. According to its corporate website, it has 376 outlets in the country. Its turnover in the year to 23 February were GBP1.37bn.
Tesco’s sales in the Czech Republic fell 4.9% in the retailer’s third quarter, which ran to 23 November. In the first half of the financial year, Tesco’s Czech sales were down 6.9%.
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