Tesco to focus on profitability before U.S. expansion

LONDON — The break-even forecast for the U.S. division of Tesco has been pushed back to early next year, the U.K. retail giant announced in its fiscal-year results. The company noted its projected break-even for its U.S. unit Fresh & Easy now will be later than its earlier guidance because "[we] intend to focus on delivering store level profitability first, before pushing on faster with the expansion we need to create sufficient scale to cover our overheads." Fresh & Easy — which operates stores across Arizona, California and Nevada — however, showed "promising results" in the fiscal year ended