The Wall Street Journal reports this morning that Tesco’s plans for its foray into the US are beginning to take a kind of public shape. The first units are expected to open next summer on the west coast, and Tim Mason, who is running the American operation, says that there will be “quite a number” of stores but is not being specific.
Tesco reportedly has been actively hiring staff, with about 60 people – most of them American - brought on board at headquarters. This represents about a third of the total expected to be hired at the headquarters level.
Land for a new warehouse has been acquired by Tesco.
Tesco’s CFO for its Korean business, Remco Waller, has been brought over to fill the same function in the US.
Tesco CEO Sir Terry Leahy has predicted that the company’s US operations will be making a profit within a year or two. The company has pledged to spend more than $450 million (US) a year in establishing a substantial US presence.
Tesco reportedly has been actively hiring staff, with about 60 people – most of them American - brought on board at headquarters. This represents about a third of the total expected to be hired at the headquarters level.
Land for a new warehouse has been acquired by Tesco.
Tesco’s CFO for its Korean business, Remco Waller, has been brought over to fill the same function in the US.
Tesco CEO Sir Terry Leahy has predicted that the company’s US operations will be making a profit within a year or two. The company has pledged to spend more than $450 million (US) a year in establishing a substantial US presence.
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