Tesco to open in the US

9 February 2006 – Cheshunt (UK): Tesco has announced it will be opening stores in the US next year.
 
In a dramatic turnaround from previous suggestions that the company was to put its US plans on hold , chief executive Sir Terry Leahy has unveiled plans to spend  an initial £250 million ($436 million) a year on the move.
 
The stores will follow the Tesco Express format currently successful in the UK, with the first one opening on the West Coast.
 
Leahy said: "This is a tremendously exciting move for Tesco, which will add a new leg to our international expansion. It is a market we have researched extensively for many years and over the past year have committed serious resources to developing a format that we believe will be really popular with US consumers."