July 24, 2006

ISSUE 1125

TESKO TO EXPAND INTO U.S.

The Wall Street Journal reported earlier this month that international retailer Tesko’s plans to expand into the U.S. are taking shape. The first units are expected to open next summer on the West Coast.

Tesco’s CEO has predicted that the company’s U.S. operations will be making a profit within a year or two. The company says it will spend more than $450 million a year in establishing a substantial U.S. presence. UK-based Tesko’s principal activity is food retailing, with more than 2,500 stores worldwide.