Tuesday, 3 May 2011

Tesco not cut out for USA?

OK, I'm not going to ramble on about this, but basically, Tesco has been told that its US business, Fresh & Easy is only going to see disappointment! 

Berkshire Hathaway, one of Tesco's biggest shareholders, has raised doubts on Tesco's success in the U.S. 

"I'm not critical, I just think it's difficult to be a new boy," said Charlie Munger, the billionaire vice-chairman of Berkshire. "Tesco is God Almighty in England. But you come into Southern California and you have Trader Joes and CostCo - that's tough competition." 

It is predicted that they will only break even towards the end of the 2012-2013 financial year!

They should have asked for my opinion...

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