TESCO ANNOUNCES AZ PLANS
Big UK grocery chain (the Wal-Mart of Europe, as many call it), Tesco, is going to open up 20 stores in Phoenix under the “Fresh and Easy Neighborhood Market” name. Ironically, the chain is creating smaller format stores to compete with Wal-Mart Supercenters.
A Tesco exec said: "The Fresh & Easy Neighborhood Market format is designed to draw customers back to their local neighborhoods.”
Tesco tailored the format according to findings from extensive customer research in local U.S. markets, combined with learnings from the more than 1,000 existing Express stores it operates in seven countries.
But beating Wal-Mart is tough. Same-store sales at Wal-Mart, including Sam’s, were up 2.2% for the five-week period ended Feb. 2. Wal-Mart had been experiencing declines in foot traffic, but the chain said those declines are now slowing.
A Tesco exec said: "The Fresh & Easy Neighborhood Market format is designed to draw customers back to their local neighborhoods.”
Tesco tailored the format according to findings from extensive customer research in local U.S. markets, combined with learnings from the more than 1,000 existing Express stores it operates in seven countries.
But beating Wal-Mart is tough. Same-store sales at Wal-Mart, including Sam’s, were up 2.2% for the five-week period ended Feb. 2. Wal-Mart had been experiencing declines in foot traffic, but the chain said those declines are now slowing.
posted at 2:27 PM
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