Tesco U.S.: Locked and Loaded

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Tesco U.S.: Locked and Loaded

LONDON -- The long-awaited arrival of British retailing giant Tesco's Fresh & Easy Neighborhood Markets is approaching, as the parent company puts the finishing touches on the launch of its U.S. chain, which is scheduled to open its first stores in November, Tesco chief executive Terry Leahy told Dow Jones Newswires last week.

"We're pretty much locked and loaded," Leahy told Dow Jones during a media briefing about Tesco's latest environmental initiative to reduce carbon emissions.

However, Leahy declined to pinpoint an exact date within that month when the stores will be open. The 10,000-square-foot locations will debut in Phoenix, Las Vegas, Los Angeles and San Diego, the report stated.

Tesco's three main priorities in the U.S. will be the community, environment and nutrition, Leahy said.

CSNews Online previously reported that Tesco is planning to spend up to $2 billion annually on the chain. The Dow Jones report stated that the existing funds include the purchase of the store sites.