Fresh & Easy Not Achieving Sales Goals: Consultant

Feb 21, 2008 6:00 AM, By ELLIOT ZWIEBACH


         Subscribe in NewsGator Online   Subscribe in Bloglines

BOCA RATON, Fla. — Fresh & Easy Neighborhood Markets have not yet come close to achieving the sales levels Tesco officials were originally hoping for, according to an industry consultant here. Speaking yesterday with investors in the U.S. and the United Kingdom in a conference call sponsored by New York-based Citigroup, Jim Prevor said the 52 Fresh & Easy stores that have opened since November are averaging weekly sales volumes of $50,000 to $60,000, or about $5 a square foot — below the goal of $200,000 a week and $14-$22 in sales per square foot the company had projected. A spokesman for Fresh & Easy declined comment when contacted by SN. Prevor said the volume estimates are based on discussions with competitors, vendors, industry observers and Fresh & Easy store managers, "who all confirm each other." Prevor also said Fresh & Easy is paying rent on stores in the Bay Area in Northern California after deciding to open them early in 2009 instead of later this year as originally planned. The Tesco spokesman told SN the company never intended to move into the Bay Area until 2009. In other comments, Prevor said Fresh & Easy is not laying off employees but is not replacing any who leave. The company spokesman declined comment on that assertion.

Read More of Today's Headlines

Want to use this article? Click here for options!
© 2010 Penton Media Inc.


Acceptable Use Policy
blog comments powered by Disqus

Subscribe / Renew to Supermarket News

Supermarket News

The most reliable source of industry news and insight...in print and online.

Most Viewed News

Read More News


Refresh: A Whole Health Blog

Bob Vosburgh

Bob Vosburgh:

Read More Refresh

SN Videos

Food Safety Challenges and Solutions

Supervalu’s Dr. John Hanlin addresses food safety issues in local sourcing, sanitation and cold chain.

Insights From SN’s Marketer of the Year

Jon Wendel, senior vice-president of Marketing, Hy-Vee, discusses the role that Marketing plays at his company.

Misconceptions About Hispanic Shoppers

Sidney Hopper, COO of United Supermarkets’ Amigos banner, clarifies some misunderstandings about Hispanic shoppers.

View All




Related Penton Sites



Plan a food industry meeting with MeetingsNet.

Subscribe to SN

Latest Cover

IRI Times & Trends

2009 CPG Year in Review: A Market Redefined by Personalized Shopping. IRI's Times & Trends highlights new developments and critical events across all major CPG categories and channels, providing powerful benchmarking data to help guide your strategic decisions. The February 2010 issue of Times & Trends explores economic, channel, department and category performance over the past year.

View All IRI Reports

Upcoming Events

March 22-24, 2010
2010 IRI Reinventing CPG and Retail Summit
Information Resources Inc.
JW Marriott San Antonio Hill Country
312.726.1221

March 25-27, 2010
Global Pet Expo
American Pet Products Association and Pet Industry Distributors Association
Orange County Convention Center
Orlando, Fla.
203.532.0000 or 443.640.1060
pida@ksgroup.org

View All Upcoming Events

More Premium Content

Beef Up

Beef Up

In 2009, supermarket meat departments found themselves in a rare position with regard to beef.

Baby Steps

Baby Steps

Most moms would like to make their own baby food, but can't due to time constraints and other reasons.

A New Power Source?

A New Power Source?

Over the past few years, a handful of supermarket companies have been trying out a novel way to generate electrica..

Getting Personal

Getting Personal

Changes are afoot at PCC Natural Markets, but they're not happening organically.

Subscribe to Premium Content Today!

Subscribe to Premium Content Today!

Corporate Finance

Read in-depth coverage of quarterly reports.

Marketing Trends

New promotions, new pricing, new products.

Subscribe to Premium Content