Tesco's Fresh and Easy 'lost its way'

Tesco is launching a strategic review that may lead to the sale or closure of its US-based Fresh and Easy chain, the company has confirmed.

The UK's largest supermarket group has spent nearly £1bn ($1.6bn) on the loss-making US venture in an attempt to take on its main rival, Wal-Mart.

Retail analyst Natalie Berg told BBC News that the Fresh and Easy stores had "never really delivered" despite identifying a gap in the market.

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