Tesco Woes: Fresh & Easy Getting Stale & Hard

Los Angeles Times, Wednesday, April 11, 2012 10:55 AM
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Large shareholders are calling for the British retail giant to take dramatic action to turn around its own recently poor performance, including pulling back from Fresh & Easy, its ambitious five-year-old start-up that is trying to blanket California with midsize supermarkets. Tesco shocked investors in January with its first earnings warning in two decades. The company has suffered unexpectedly deep troubles in its British supermarket business, which has ramped up pressure to either improve the fortunes of the still-unprofitable Fresh & Easy or unload the chain.

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