Results to be published on Wednesday are expected to show Tesco has lost £1bn on its Fresh & Easy venture in the United States.
The 200-store chain in California, Arizona and Nevada has failed to attract enough shoppers and will be closed.
The retailer’s profits are set to drop 10% to £3.4bn, with the cost of reviving the British business and the horsemeat scandal also proving to be negative factors.
Sunday Times Business 1 and 8
Sunday Telegraph Business 1 and 5
Observer 41
Mail on Sunday 124
Independent on Sunday 35
Results to be published on Wednesday are expected to show Tesco has lost £1bn on its Fresh & Easy venture in the United States.The 200-store chain in California, Arizona and Nevada has failed to attract enough shoppers and will be closed. The retailer’s profits are set to drop 10% to £3.4bn, with the cost of reviving the British business and the horsemeat scandal also proving to be negative factors.Sunday Times Business 1 and 8Sunday Telegraph Business 1 and 5Observer 41Mail on Sunday 124Independent on Sunday 35
