Tesco Coasts On Fresh & Easy Profitability

Tesco has pushed back the timeframe for reaching a break-even point for its Fresh & Easy Neighborhood Market chain in the U.S. until early 2014 rather than early 2013. "The business is on track to deliver a further significant reduction in losses during the current year, even though the timing of break-even will now be later than our earlier guidance," the company said. "This is because we intend to focus on delivering store-level profitability first before pushing on faster with the expansion we need to create sufficient scale to cover our overheads."

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