Tesco to mothball 12 Fresh & Easy U.S. stores

LONDON (Reuters) - Tesco , the world's No.3 retailer, is mothballing 12 stores at its loss-making Fresh & Easy business in the United States due to weak local economies, it said on Tuesday.
The British group said it remained committed to the chain, which it is aiming to lift to break even by the end of its 2012-13 financial year.
"Fresh & Easy continues to grow, and we are opening 25 stores between now and the end of March, so for every store we're closing we are temporarily opening two," it said in a statement.
Tesco said there was not enough growth in sales and customers at the 12 stores in California, Arizona and Nevada to justify keeping them open.