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Britain’s Tesco aimed for the low-end U.S. grocery market and crashed. New York’s Fairway chain went public, aiming at the higher end. Is there no middle ground?
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, the U.K. retailer, started opening up a new kind of grocery store in the U.S. five years ago. More than a convenience store, almost a supermarket, Fresh & Easy hasn't found its place in shoppers' habits.
British supermarket company Tesco tried to expand into the U.S. under the Fresh & Easy brand. The effort has since proven fruitless. Investors are now pressuring Tesco to focus on the business back home.