Most Active Stories
- London Mayor Boris Johnson Settles U.S. Tax Bill Ahead Of Visit
- National School Choice rally, surplus auction and Huntsville desegregation
- Same sex marriage ban still in place, Tuscaloosa celebrates Deontay Wilder
- Girl Scout Cookies, Obamacare, Hospital Shutdown
- Alabama Chief Justice Roy Moore Speaks Out on Same Sex Marriage Ruling
Wed April 17, 2013
Originally published on Wed April 17, 2013 1:46 pm
DAVID GREENE, HOST:
NPR's business news begins with fresh but not easy.
(SOUNDBITE OF MUSIC)
GREENE: Britain's largest retailer is taking a big loss as it announces it will shut down its West Coast grocery store chain Fresh & Easy. Tesco launched the chain in 2007 with nearly 200 stores throughout California, Nevada and Arizona.
Fresh & Easy's business model was: cheap, natural, healthy food fast. Customers used self-service checkout aisles. Fresh & Easy competed for customers with Trader Joes, Whole Foods and even Wal-Mart, but never turned a profit for Tesco and now it's shutting down. The British supermarket giant says the move will cost them $1.5 billion, but should save them a lot more in the long run. Transcript provided by NPR, Copyright NPR.