Financial Times FT.com

Tesco denies claims of US troubles

By Jonathan Birchall in New York and Tom Braithwaite in London

Published: February 26 2008 19:50 | Last updated: February 26 2008 19:50

Tesco, the UK supermarket group, insisted on Tuesday that its US expansion plans were on track, amid growing speculation that the initial performance of its new Fresh & Easy discount grocery stores concept has fallen short of expectations.

Mike Dennis, an analyst at Piper Jaffray, is the latest commentator to question the success of Tesco’s launch in the US.

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