Tesco may open 200 US stores per year


10 August 2006 — London (UK): Tesco is looking to include Las Vegas in its £250 million ($476 million) US expansion strategy, according to the Financial Times.

It is reported that the company has registered its Tesco Stores West and Tesco Stores Holdings subsidiaries in Nevada, California and Arizona.

While Tesco has declined to disclose further details of its expansion strategy, analysts at Goldman Sachs believe the £250 million US investment budget should enable the company to open 200 stores a year.

Tesco is also set to become the biggest non-food retailer in the UK by the end of the year according to retail research group, Verdict.