NEW YORK (Reuters) - Tesco (TSCO.L) will open one of its much-anticipated Fresh & Easy Neighborhood Markets on Hollywood Boulevard in Los Angeles, building co-owner Federal Realty Investment Trust (FRT.N) said on Thursday.
In its secretive move into the highly competitive U.S. market, the British grocery retailer has not revealed the exact locations of Fresh & Easy outlets, which will be smaller convenience stores emphasizing ready-to-eat meals and fresh produce.
The 16,600-square-foot (1,540-sq-meter) store to be located at 7120 Hollywood Boulevard is expected to open in autumn 2008. The property’s other tenants include shoe retailer DSW DSW.N, LA Fitness and Longs Drug Stores LDG.N.
Tesco has said it plans to open stores throughout Southern California and in Phoenix and Las Vegas.
Industry analysts say Tesco, one of the world’s top-five retailers, could redefine the way Americans shop by luring them to convenience stores for more than just cigarettes, beer and snacks.
Reporting by Martinne Geller