Change to Win has launched a fresh attack on Tesco’s US operations.
During Tesco’s AGM on Friday (29 July) the group reiterated calls for Tesco to “increase transparency” at its US business, Fresh & Easy. CtW is comprised of four unions representing over 5.5m workers in North America.
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While the impact that CtW will likely have on Tesco’s strategy is minimal, it seems likely the UK retailer will not welcome the spotlight once again being cast on its loss-making US unit.
Tesco’s foray into the well-developed and highly-competitive US market has attracted criticism since Fresh & Easy opened the doors to its first store in 2008. The group has faced down criticism from the City, with analysts and investors repeatedly suggesting the firm should cut its losses and pull out from the market.
The business has yet to make a profit but, in Tesco’s last financial year, which ran until 25 February, losses from its US division fell 17.7% to GBP153m.
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By GlobalData
