Tesco to open 10 stores per year in China

by liamssoft | January 30, 2007 at 06:11 am

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Tesco plans to bring Ting Cao's 46 stores under its own brand, it said in a statement emailed to Reuters.

''Britain's No 1 retailer is about to conquer China. This companies management are top notch. Year after year they produce better profits, service and quality. They have the most highly educated business brains behind their business, and many people say they should be running the UK'' liamssoft

SHANGHAI (Reuters) - Supermarket chain Tesco plans to open about 10 Tesco stores in China a year to expand its presence in the booming economy, the company said on Tuesday.

Tesco, Britain's largest and the world's fifth-biggest retailer, is making a multi-pronged foray into new markets to offset the prospect of slowing consumption at home.

The company opened its first own-brand store in Beijing last week, and also owns the Le Gou Hymall stores in China through its joint venture Ting Cao, in which Tesco has a 90-percent stake.