Cheshunt, England Tesco CEO Sir Terry Leahy said last week that comp-store sales for the company’s U.S. operation, Fresh & Easy Neighborhood Market, are progressing strongly, according to Supermarket News.
However, Leahy said Fresh & Easy expects to open only 500,000 sq. ft. of new selling space during the second half, down from earlier projections due to the U.S. recession, citing "you can't just buck a downturn of that magnitude, the report said.
Leahy also noted that once the U.S. economy turns around, the company plans to step up its growth rate.
Last week, Tesco reported that its third-quarter sales for the 13 weeks that ended Nov. 22 rose 11.7%, including 5.8% growth in the United Kingdom and 28.1% in its international division.