News; Tesco may be pulling out of the U.S. withdrawal from Japan
Published: Thursday 01 September, 2011
The world's third-largest British retailer Tesco has announced that it will exit the Japanese market, and is ready to sell all of its 129 in the Tokyo area stores, Tesco in the UK eight years ago settled in Japan. Tesco CEO Clark said, and not in the local view of the establishment of full-scale business, decided to withdraw the next few months to carry out the sale matters.
According to analysts, the Japanese market is Tesco in 13 international markets the smallest, more than 3,900 employees and annual sales of less than 500 million pounds. It is reported that once the company's current recovery plan does not work, it may also be prepared to get rid of the amount of loss greater U.S. business.