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Update on Tesco's U.S. Exit

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 Supermarket News reports that it could take British retailer Tesco more than three months to finalize its exit from the U.S. market. Tesco has been reportedly in negotiations to dispose of its Fresh & Easy stores in the U.S., which will most likely be split between a few different buyers.

 David Gray, an analyst with Planet Retail here, said the plan to exit the U.S. "was welcome news for investors, even if the writedown of U.S. assets will prove unhelpful in the short term. We continue to believe the operation is likely to be split up between a handful of competing buyers, such as Aldi, Trader Joe's and, potentially, U.S. dollar stores, rather than sold off in its entirety."
 

 

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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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