Tesco Is In A State Of Loss And The First Store In China Will Close.

Last year, after closing 4 stores and closing the Zhenning store in May this year, TESCO Tesco will also "reluctantly" close its first store in China, Shanghai Tesco Changning store. Reporters yesterday learned that the Changning shop in Tesco, Changning International Gymnastic Center, Shanghai, has posted a notice of "curtain call" which will end 15 years of business in September 21st because of the expiration of the lease. Although TESCO Tesco said this is only a strategic adjustment of the company, its frequent closes in recent years have led the industry to see the bottleneck of the retail industry after low consumption and rents.

At present, TESCO Tesco Changning store has placed the "Tesco shop in Changning for 15 years, a warm curtain call" and "closing countdown on September 21st" and other billboards as a curtain call promotion. Its sales of goods are 5 folded up for sale. The store staff said that due to a substantial promotion, milk, beverages, cooking oil and other daily necessities were basically sold out. After the store closes, its shop assistants will be transferred to other stores.

"Actually, the performance of the Changning store is good. We have tried to renew the contract, but unfortunately the owner has the overall plan and can not continue to sell the stores. It is a pity that the project is closed. Of course, this is a strategic adjustment. In the future, we will find more opportunities to expand in China. TESCO Tesco China revealed.

Having said that, TESCO Tesco has closed down Bengbu city's Baolong City Square shop in Bengbu, Anhui Changshu store, Taizhou Wah Ju City store, Liaoning Tieling Guangyu store and Shanghai Zhenning store. It shows that its closure or loss of shops, or the closure of shops due to the difficulty of leasing, can see that its business pressure is enormous.

Although TESCO Tesco As early as 2004, it entered the Chinese market, but at present it is still in a state of deficit. A few days ago, TESCO signed a memorandum of understanding with Huarun entrepreneurs to consider setting up a joint venture retail companies to operate large supermarkets and ordinary supermarkets in China. Huarun Entrepreneurship and TESCO will own 80% and 20% shares respectively. The move is considered by the industry as Huarun Tesco's "Huarun" development. However, since TESCO shares only 20% of the joint venture, its brand may be weakened or even disappeared in China.