This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7079339.stm

The article has changed 3 times. There is an RSS feed of changes available.

Version 1 Version 2
Tesco opens its first store in US Tesco opens its first store in US
(1 day later)
Tesco, the UK's largest retailer, has opened its first US store in the small city of Hemet, near Los Angeles.Tesco, the UK's largest retailer, has opened its first US store in the small city of Hemet, near Los Angeles.
The retailer decided to go for a "soft launch" of the store at Hemet prior to opening a further five stores in southern California on Thursday.The retailer decided to go for a "soft launch" of the store at Hemet prior to opening a further five stores in southern California on Thursday.
Tesco is using "Fresh & Easy" as the name for its US venture and will open more stores by the end of the year,Tesco is using "Fresh & Easy" as the name for its US venture and will open more stores by the end of the year,
"We need to have live customers in order to test the systems in the store," said a spokeswoman."We need to have live customers in order to test the systems in the store," said a spokeswoman.
"It is entirely logical to do this ahead of the grand opening on 8 November," she said"It is entirely logical to do this ahead of the grand opening on 8 November," she said
Convenience storesConvenience stores
Tesco chief executive Terry Leahy has said Fresh & Easy could one day rival the retailer's UK business.Tesco chief executive Terry Leahy has said Fresh & Easy could one day rival the retailer's UK business.
The company plans to invest more than $250m (£120m) in its US business launch.The company plans to invest more than $250m (£120m) in its US business launch.
"Tesco's entry could potentially go down as a genuine turning point in the industry, possibly comparable with Wal-Mart's decision to start opening Supercenters in the 1980s", James Anstead, Citigroup retail analyst, said in a recent note to investors."Tesco's entry could potentially go down as a genuine turning point in the industry, possibly comparable with Wal-Mart's decision to start opening Supercenters in the 1980s", James Anstead, Citigroup retail analyst, said in a recent note to investors.
Tesco is targeting US grocers such as 7-Eleven and locally-run stores using a chain of convenience stores modelled on the Tesco Express blueprint.Tesco is targeting US grocers such as 7-Eleven and locally-run stores using a chain of convenience stores modelled on the Tesco Express blueprint.
Fresh & Easy stores are 75% smaller than most American supermarkets.Fresh & Easy stores are 75% smaller than most American supermarkets.
High hopesHigh hopes
The US market is notoriously tough for UK businesses.The US market is notoriously tough for UK businesses.
Top retailers Sainsbury's and Marks & Spencer have failed to crack the tastes of the US consumer and both have withdrawn back across the Atlantic.Top retailers Sainsbury's and Marks & Spencer have failed to crack the tastes of the US consumer and both have withdrawn back across the Atlantic.
Nevertheless, Credit Suisse forecast in a report this year that Tesco's US sales could reach $1bn within three years, and corner 2% to 6% of the local market share over five years.Nevertheless, Credit Suisse forecast in a report this year that Tesco's US sales could reach $1bn within three years, and corner 2% to 6% of the local market share over five years.

What do you think of Tesco opening in the USA? What are the best products your country has given to the world? And what stores or products were you secretly happy to be able to offload? Send us your comments using the form below:
Name: