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Tesco Quits United States and Shocks With Profit Fall

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Tesco Quits United States and Shocks With Profit Fall
AIRED:
The move into America was supposed to be a new chapter for Britain's Tesco. But Fresh & Easy never made a profit. Five years on the world's third biggest retailer is quitting the States. The $1.5 billion write-off contributed to Tesco's first annual profit fall in 20 years - it was down by a half to less than 2 billion. Laurie McIllwee is Tesco's CFO.moreless
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