• January 10, 2012

Fresh & Easy says it will temporarily close 12 underperforming stores. “Like any retailer, we are always evaluating our store portfolio,” says a spokesperson for the El Segundo, Calif.-based company, owned by the British megaretailer, Tesco. He adds that it will also open 25 new stores between now and the end of March. “At this time, there is simply not enough growth in sales and customers at these stores to keep them open,” he says. “We will re-open them when economic and business conditions warrant.”

In its most recent quarterly financial report, Tesco says “we continue to be encouraged by the momentum in Fresh & Easy.  Sales were up over 29% in the quarter, with further, double-digit like-for-like sales growth of 11.9%, driven by both increased customer numbers and higher average spend.  New store performance also continues to be pleasing, with good weekly sales per store.”