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Tesco U.S. exit could cost $382 million in cash
date:Apr 10, 2013
Tesco Plc (TSCO)s exit from its unprofitable Fresh Easy U.S. business may cost the U.K.s largest grocer about 250 million pounds ($382 million) in cash, Shore Capital (SGR) estimates.

While Tesco would face a 1 billion-pound writedown on the U.S., according to a Telegraph report, the greater area of interest is the cash costs from exit, given most investors will have already anticipated the paper adjustment to the asset base, Shore analyst Clive Black wrote in a note to investors.

Tesco Chief

12/22 08:13