Did UK’s Tesco Misread Yank Shoppers?
April 7th, 2008
Analysts don’t agree on by how much, but they concur that Tesco’s 59 Fresh & Easy locations are missing their weekly sales targets. Some analysts think stores are averaging $170,000, while others think the number could be as low as $60,000. Interestingly, evidence suggests Americans are confused by the new concept: part organic, part convenience and all served up in a miniature warehouse club-type environment. Count on Tesco’s curing whatever ails its new stateside baby. Food retail observor Kevin Coupe, founder of MorningNewsBeat.com, says, “There isn’t a place in the world where Tesco has gone one-on-one with Wal-Mart and Tesco hasn’t won.” USA Today (Apr. 7, 2008)
Tags: Fresh & Easy, store openings, Tesco