With regard to opening new stores in the US, Tesco has decided to remain pacific with its current 115 stores. The company plans on waiting out the more direct implications of the global recession on the industry and on the consumers’ disposable income before moving on to open new stores in the US.
“US sales were £208m in the year, including like-for-like growth of 30%, and trading losses were £142m (last year US trading losses were £62m). At constant exchange rates, trading losses were £123m, higher than [Tesco’s] guidance provided last year, reflecting the more challenging trading environment in the Western states and [Tesco’s] decision not to open stores in Northern California for the time being. Sales overall were lower than anticipated at the time of last year’s Preliminary Results, as a consequence of [Tesco’s] previously announced decision to maintain, rather than accelerate, [its] rate of new store expansion during the second half given the severity of the economic downturn in some geographic markets in the Western US” (Tesco 2009).
“All [Tesco’s] stores in the US are about 30% more energy efficient than a typical supermarket and contain a number of green features: from increased insulation and night shades on refrigeration cases to keep cool air from escaping; to hybrid parking spaces and bike racks to encourage employees and customers to use greener transport” (Tesco 2009).
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