Tesco might be the world's third biggest retailer, but the US has stubbornly refused to bite the cherry. Tesco launched in the US under the 'Fresh and Easy' brand to much fanfare in 2007, but is yet to turn a profit. Chief executive Philip Clarke said earlier this summer that Tesco would pull the plug on the US business if it continued to disappoint, but it would appear he’s had a change of heart.
The Fresh and Easy chain is 'fighting nicely' in 'a play ground with some very big and very old retailers', Clarke told the World Retail Congress on Wednesday. 'Already the changes that we've been making have gone some way to prove that's there's life in Fresh & Easy yet,' he said.
And he’ll no doubt take some comfort from the fact that the Indian government is now throwing its doors open to overseas retail firms. Tesco is already said to be eyeing up the Indian market - but he’ll have to win over India’s small shopkeepers first.