Mr Marcus McGowan MSc PgDip BA (Hons)

This Business Education Learning Blog is aimed primarily at Higher Business Management students/teachers and ICT students/teachers.

The aim of this blog is to provide you with interesting articles, news, trivia as well as resources or links to materials which will help in your course of study.

I am a Teacher of Business Education and I have written for Education Scotland and BBC Bitesize.

If you'd like to contact me please click on the link to: email me

Wednesday 17 April 2013

Tesco to pull out of the USA

Talking of strategic decisions in Higher Business Management, here is a real life one from Tesco – the UK’s largest supermarket.

 

Tesco's annual profits have fallen for the first time in almost 20 years, as it confirmed it was pulling out of the US.

 

Tesco is winding up its US chain of 199 Fresh & Easy shops, which have never made a profit, at a cost of £1.2bn. The company has also announced a one-off UK property write-down of £804m. Pre-tax profits were down 51% to £1.96bn, but post-tax profits including the cost of the US exit were just £120m, down 95.7%.

 

Tesco said sales at UK stores in the past three months, excluding fuel and VAT sales tax, rose 0.5%, a slowdown from growth of 1.8% in the six weeks to 5 January when the company hailed strong Christmas trading.

 

Read more here:

http://www.bbc.co.uk/news/business-22179255

 

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