Fresh & Easy Posts $303M Loss

CHESHUNT, U.K. — Tesco PLC here said Tuesday that losses at its Fresh & Easy banner in the U.S. increased to about $302.6 million in the most recent fiscal year, but the company is ramping up expansion and expects to be profitable within about two years.

CHESHUNT, U.K. — Tesco PLC here said Tuesday that losses at its Fresh & Easy banner in the U.S. increased to about $302.6 million in the most recent fiscal year, but the company is ramping up expansion and expects to be profitable within about two years.

The chain posted sales of about $816 million in the year, up 41.8%, and same-stores sales were up 9.4% for the year, including 9.8% in the third quarter

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