Tesco invests one billion pounds to the development of its British businesses

Tesco invests one billion pounds, (roughly 358 billion HUF) to the development of its Britsih stores. The company opened three new hypermarkets in Britain, and is planning to open a further six units. Instead of the international expansion the company is focusing to the domestic market again – the New York Times wrote.

Tesco, the third-largest supermarket chain, after the American global giant Wal-Mart Stores and the French multinational Carrefour, had hoped that expanding abroad would elevate earnings and lift its share price. The outreach included starting the Fresh and Easy grocery chain in the United States. But Fresh and Easy flopped, and Tesco struck a deal on Tuesday to sell most of those stores to an affiliate of the money-management firm run by the American billionaire Ronald W. Burkle. (MTI)