New Market Report: Tesco PLC's US Experience: How to Lose GBP1bn, the Fresh & Easy Way
In November 2007, UK retailer Tesco PLC opened its first six Fresh & Easy branded stores in California, United States. Less than six years later, CEO Phillip Clarke announced a complete withdrawal from the market and a write-down loss of GBP1bn (approximately $1.6bn). This case study will examine Fresh & Easy's history, the reasons that contributed to its failure, and what lessons can be taken.
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