Boston, MA -- (SBWIRE) -- 05/06/2014 -- 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.
Report Features and Benefits
- An in-depth assessment of the operational and macroeconomic difficulties Fresh & Easy encountered.
- An analysis of the financial performance of Fresh & Easy.
Chilled prepared ready meals which Tesco sought to build the Fresh & Easy concept on have failed to gain momentum in the US, in sharp contrast to the United Kingdom .
The sub-prime mortgage crisis impacted upon the geographical areas in which Fresh & Easy operated, as high foreclosure and unemployment rates disrupted local communities.
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Key Questions Answered in this Report
- Why did an internationally successful retailer such as Tesco PLC fail in the US?
- What were the reasons for Fresh & Easy's failure?
- What lessons can be learnt from Tesco PLC's US experience by other retailers?
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