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Update on Tesco's U.S. Exit

Update on Tesco's U.S. Exit

 Supermarket News reports that it could take British retailer Tesco more than three months to finalize its exit from the U.S. market. Tesco has been reportedly in negotiations to dispose of its Fresh & Easy stores in the U.S., which will most likely be split between a few different buyers.

 David Gray, an analyst with Planet Retail here, said the plan to exit the U.S. "was welcome news for investors, even if the writedown of U.S. assets will prove unhelpful in the short term. We continue to believe the operation is likely to be split up between a handful of competing buyers, such as Aldi, Trader Joe's and, potentially, U.S. dollar stores, rather than sold off in its entirety."
 

 

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