Tesco: Fresh & Easy Sales Ahead of Plan
El Segundo, Calif. Tesco reported in a press release issued on April 15 that sales at its Fresh & Easy stores in the United States are ahead of budget and sales densities are higher than the U.S. supermarket industry average, with its best stores exceeding $20 per square foot per week.
The company said it is seeing strong growth in early stores, as well as solid sales performance in recent openings in Southern California, Nevada and Arizona.
Tesco reported that because of the deteriorating property market, particularly in Arizona and Nevada, plans to open prototype stores later this year will be deferred. The company said that despite this, it still expects to open about 150 new stores this year.