The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content


(Damian Dovarganes/AP)

SUBSCRIBERS ONLY

Tesco’s best U.S. move? Heading for the checkout counter

About time, too. Tesco’s decision to get out of the U.S. (or, in corporate-speak, launch a “strategic review” of the business) is long overdue. For a business that accounted for just 1 per cent of Tesco’s sales in the first half of the year, it attracted a disproportionate amount of attention. Tesco has little to show for the £1-billion ($1.59-billion) that it has spent in the U.S., other than £800-million of accumulated losses and a 200-store estate that struggled to attract shoppers.