This is a tremendously exciting move for Tesco which will add a new leg to their international expansion.
The United States is the largest economy in the world with strong forecast growth and a sophisticated retail market.
It is a market they have researched extensively for many years and over the last year they have committed serious resources to developing a format that they believe will be really popular with American consumers.
'They've put a strong team together, led by Tim Mason and drawing on the wealth of skills and experience within the group.
The first stores will open on the West Coast in 2007.'
Tesco is the UK's largest retailer and one of the world's leading international retailers.
They have reached this position through consistent focus on their four part strategy for growth:
The Tesco Group had turnover of £33,974 million ($59,454 million) with pre-tax profits of £2,029 million ($3,551 million) in the year to February 2005.
They have 2,467 stores, employing over 370,000 people in the 13 countries in which they operate.
In Europe, outside the UK, they operate in Ireland, Hungary, Poland, Czech Republic, Slovakia and Turkey where they have 305 stores and over 61,000 employees.
In Asia they have 343 stores and over 40,000 employees across their businesses in Thailand, S Korea, Malaysia, Taiwan, Japan and China.
They are the market leader in six of the countries they trade in.
Tesco is a multi-format business, operating hypermarkets, superstores, supermarkets and convenience stores.
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