Tesco Trims U.S. Investment

Tesco Trims U.S. Investment

“Fresh & Easy is not where we want it to be, which is why future capital will be very tightly constrained.” — Philip Clarke, CEO, Tesco

CHESHUNT, England — Tesco here said last week it plans to constrain capital investment in the U.S. during the second half, with only a handful of new stores planned for the balance of the fiscal year.

The company said it expects to operate “just over 200” stores by the end of its fiscal year next February, rather than the 230 it projected at the beginning of the year.

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