British retailer Tesco packs up after failing in the U.S.

Britain's biggest retailer, the supermarket Tesco, has announced its first drop in profit in 20 years -- and it seems its U.S. business expansion is partly to blame.

Britain's biggest retailer, the supermarket Tesco, has announced its first drop in profit in 20 years -- and its U.S. business expansion may be partly to blame. Tesco, which owns the grocery store chain Fresh & Easy, has announced that it will close down its 199 locations and exit the U.S. market.

Marketplace's Stephen Beard in London joins Morning Report host Jeremy Hobson to explain why the company struggled to make it in America.

About the author

Stephen Beard is the European bureau chief and provides daily coverage of Europe’s business and economic developments for the entire Marketplace portfolio.

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