Tesco to Close a Dozen Fresh & Easy Stores

Tesco will be closing a dozen Fresh & Easy stores due to weak economy, but said it is still committed to the chain and expects it to reach profitability by the end of its 2013 fiscal year, according to published reports.

The grocer said it still wants to grow Fresh & Easy, but there was just not enough sales growth in those specific markets served by the 12 stores. It pointed out that it still plans to open 25 Fresh & Easy stores by March.