NEW YORK — Tesco's decision to invest in its small-format Fresh & Easy Neighborhood Market stores in the Western U.S. was based on its perception that convenience “is a relatively underinvested segment of retailing” in the U.S., said Sir Terry Leahy, chief executive for U.K.-based Tesco, in a presentation at the National Retail Federation's 99th Annual Convention & Expo here last week. “Convenience is the fastest-growing sector of retailing around the world. One exception, ...

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