LONDON — According to a report from IGD, Tesco PLC is adjusting its growth strategy in China and will close four of its 130 hypermarkets there.
According to a report from IGD, Tesco PLC is adjusting its growth strategy in China and will close four of its 130 hypermarkets there.
The four locations are in Bengbu in Anhui province; Tieling in Liaoning province; and Taizhou and Changshu in Jiangsu province.
The retailer will now concentrate on three regions: Liaoning and Beijing in the northeast; Shanghai in the east and the Guangzhou area in south China. The company will also develop a multiformat, multichannel approach, with an online grocery business expected to debut next year.
