Reuters reports that Tesco Strategy and Finance Director Andrew Higginson has been quoted as saying that while the company believes that its US efforts represent the chance to create "billions of pounds in value", it also knows that "if it is a failure with consumers you have got to be prepared to pull the plug, and we would move fast.” However, Higginson adds, “You don't go in with that view.”
Tesco is scheduled to start opening its Fresh & Easy Neighborhood Markets later this year in Southern California, Arizona and Nevada; if successful, the company is said to be prepared for a nationwide rollout.
However, an official Tesco spokesman denies a report that Tesco has set a $3 billion (US) cap on its US investment, and will pull out before investing any more in the enterprise.
"There is no cap and we are very excited about the business in the United States. We have spent a long time researching the market and we think we have a winning combination," Tesco spokesman Greg Sage told Reuters.
Tesco is scheduled to start opening its Fresh & Easy Neighborhood Markets later this year in Southern California, Arizona and Nevada; if successful, the company is said to be prepared for a nationwide rollout.
However, an official Tesco spokesman denies a report that Tesco has set a $3 billion (US) cap on its US investment, and will pull out before investing any more in the enterprise.
"There is no cap and we are very excited about the business in the United States. We have spent a long time researching the market and we think we have a winning combination," Tesco spokesman Greg Sage told Reuters.
- KC's View:
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Look, it makes sense to have a Plan B when planning any enterprise of this magnitude. And Tesco is nothing if not a sensible company.
Only morons would not have a Plan B, would not have a contingency plan if things don’t go well.
Though we have to admit that we’re a little surprised that the company’s Strategy and Finance Director is giving voice to it.
