Tesco is set to pull out of Japan admitting that it “cannot build a sufficiently scalable business.”
The supermarket revealed this week that it plans to sell its entire business in Japan, eight years after launching in the country.
Japan is the smallest of Tesco’s international retail businesses. It operates 129 small stores in the Greater Tokyo area under the Tsurakame, Tesco and Tesco Express formats.
Nearly half of the stores are loss making and although Tesco said it had developed a strong own label range and a fresh kitchen to supply fish and other products to its stores, it had decided the business did not fit with its global strategy.
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