Tesco reports third quarter results; CEO says Fresh & Easy stores add to growth

CHESHUNT, England Tesco chief executive officer Terry Leahy told the media that the launch of Fresh & Easy Neighborhood Market stores in the United States has been successful this year and that operations have moved into the growth arena.

Tesco announced this week that for the 13 weeks ended Nov. 22 corporate sales rose 11.7 percent, which included an almost 6 percent rate of growth in the United Kingdom and 28.1 percent growth in Tesco’s international division.

Though the new Fresh & Easy stores seem to be flourishing along the West Coast and Midwestern United States, Tesco has said that it has lessened Fresh & Easy expansion plans for early 2009 due to the current state of the U.S. economy.