Tesco to extend Chinese operations
Tesco and its partner Tin Cao already run 50 stores along China’s east coast.
Britain’s biggest retailer Tesco Plc has announced it will soon open its first Tesco Express store in China, according to Reuters.
The move is part of the supermarket giant’s international expansion plans, which include new openings in the US and Turkey.
Tesco is already the world’s third largest retailer, operating outlets in 13 countries.
The first Tesco Express store will open its doors in Shanghai, through a joint venture with Tesco’s local partner Tin Cao, with which it already operates its Hymall hypermarket chain. The companies run over 50 stores located along China’s east coast from Beijing to Shenzhen.
In Turkey, Tesco’s expansion plans include the opening of 100 new stores in the country at an investment of around US$1.5bn (£756,000). Whilst Stateside, development of the Fresh & Easy brand is set to continue over the next five years at a total investment of US$495m (£249m) each year. Tesco opened its first Fresh & Easy store in Hemet, California in November 2007.
The news comes just two weeks after the retailer reported it had failed to meet market expectations for the Christmas period. Like-for-like sales, excluding petrol, increased by 3.1% in the period, almost a percentage point lower than the 4% predicated by analysts.
Its online businesses, tesco.com and Tesco Direct, had a very successful Christmas however, with total sales up by 24% to over £190 million. Group sales were also up 12.8% worldwide, a faster rate of growth than in its third quarter.
For more information on Tesco and its international operations, visit www.tescocorporate.com.
By Natasha Piscitelli
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What’s the point in advertising when at your stores in Kent (manston and broadstairs) when you go along to purchase on a Sunday a ready cooked chicken between 1300/1400 hours (you close at 1600 hours)and are told that you have sold out - especially when you have a sign which clearly says “cooked chicken all day”. The staff seem to be in control i.e. only cooking a certain number of chickens and once sold they do not cook any more - on asking why there are no chickens the staff say they have fully sold out and have no more -this i think is a lie. Also the staff say they have to clean the trays etc - so i assume they do this in there working time and do not care about customer service. I have a large family and have been spending around £200 per week in cash at your stores - but in view of the attitude shown my your staff and so called managers i will now visit Asda or Sainsbury which are both close by.
July 12th, 2009 at 4:04 pm