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Update on Tesco

British retailer Tesco's (TSCO.L) U.S stores have started well, it said on Tuesday, as the chain faced new protests from community groups who fear its marketing promises are not being translated into reality.

Tim Mason, chief executive of Tesco's U.S. venture Fresh & Easy told more than 100 U.S. and European investors that customers have responded well since the chain launched in Los Angeles three weeks ago.

Its fresh food -- one area Fresh & Easy has targeted as a way to differentiate itself from local rivals like Trader Joe's -- was "particularly well received," Mason said.

The comments, released to the media on Tuesday, are Tesco's first on the progress of the chain since stores opened on November 8 following months of speculation and high expectations from retail industry analysts.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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