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.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.