Tesco to open in four U.S. markets

LAS VEGAS (Reuters) - Tesco (TSCO.L) said on Wednesday it will open its "Fresh & Easy Neighborhood Markets" in four U.S. cities -- Las Vegas, Los Angeles, Phoenix and San Diego -- in late 2007.

Britain's largest retailer also said it will spend $400 million (200 million pounds) a year in the United States for the next five years as it expands the chain of smaller convenience stores focusing on freshly prepared meals.

Tesco said in a statement its "Fresh & Easy Neighborhood Markets" will be about 10,000 square feet in size, smaller than traditional supermarkets to make shopping faster and easier.