CALIFORNIA BUSINESS MINUTE
Tesco Enters California Market
10-01-07
Hi, I am Tim Johnson and welcome to the California Business Minute.
The British based grocery retailer Tesco, the worlds fourth largest retailer is entering
the states $60 billion a year grocery business under the name Fresh and Easy.
Tesco bills themselves as somewhere between Whole Foods Market and Trader Joes.
Tesco operates more than 2,500 stores in 13 countries. Their store size is around
15,000 square feet, thereby reducing land use controversies so often related to
locating big box stores. However Tesco has recently leased a vacated Albertsons
store at 33,000 square feet in Glassell Park just south of Glendale.
Tesco is currently focused at Los Angeles, Orange, San Diego, Riverside, and San
Bernardino counties. Orange County is seeing stores open in La Habra, Huntington
Beach, Fullerton, Buena Park, Orange, Fountain Valley, Laguna Hills and two stores
in Orange.
Additionally, Tesco has purchased 88.4 acres and is building a warehouse distribution
facility along Highway 86. Tescos US corporate headquarters is in El Segundo.
I am Tim Johnson and this has been the California Business Minute.
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