Don’t bet against Tesco, US setback or not

TESCO, one of the giants of the food retailing sector, surprised the markets with its decision to place a three-month moratorium on its expansion in the US.

Since last June the group has opened 60 Fresh ’n’ Easy stores on America’s West Coast, with plans to have 200 more in place by the end of 2009.

This is the group’s first venture into the US market for which the giant retailer has been very bullish.