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Tesco PLC’s US experience: How to lose £1bn, the Fresh & Easy way

  • February 2014
  • -
  • MarketLine
  • -
  • 16 pages

Summary

Table of Contents

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Introduction

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 £1bn (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.

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.

Highlights

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.

Your key questions answered

* 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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