Tesco CEO Philip Clarke tells the Financial Times that he expects the company’s US operation, Fresh & Easy Neighborhood Markets, to begin to break even “as early as this year.”
Clarke said that getting a return on investment “is the only reason for having any business,” and that this benchmark applies to Fresh & Easy.
"What I am yearning for is a day I can say not just, 'Hey do you know what, it's got to break even' but 'Look here at the prospect of strong returns'," Clarke told FT.
According to the story, “Clarke has introduced changes at Fresh & Easy since taking over from predecessor Terry Leahy, who set 2013 as the target for when the chain would break even. Clarke has refurbished stores, opened some smaller ‘Express’ shops and closed 12 units.”
Clarke said that getting a return on investment “is the only reason for having any business,” and that this benchmark applies to Fresh & Easy.
"What I am yearning for is a day I can say not just, 'Hey do you know what, it's got to break even' but 'Look here at the prospect of strong returns'," Clarke told FT.
According to the story, “Clarke has introduced changes at Fresh & Easy since taking over from predecessor Terry Leahy, who set 2013 as the target for when the chain would break even. Clarke has refurbished stores, opened some smaller ‘Express’ shops and closed 12 units.”
- KC's View:
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I haven’t been to a Fresh & Easy in some time...I’m looking to seeing one in a few weeks, since the folks there seem to feel that they’ve tweaked the concept to the point where they are more relevant than they were when first opened.
