Just months after completely exiting Asia, British supermarket chain Tesco is now also retreating from Poland. The chain has sold its 301 Polish supermarkets to a Danish group.
Focus on Central Europe
The British retail giant sells its 301 Polish supermarkets for 181 million pounds (200 million euros) to the Danish retailer Salling Group. The distribution centres and the headquarters in Poland are sold as well.
In the past eighteen months, Tesco had already sold 22 stores in Poland, a country where Tesco felt it did not gain enough of a market share to warrant continuing efforts. These efforts will now be invested in three other Central-European countries where Tesco does have a major market share: Czechia, Hungary and Slovakia.
The British retail group has been reducing its international activities for years: earlier this year, Tesco sold all of its 2,000 remaining Asian stores (in Malaysia and Thailand). Lately, the chain has also sold its stores in China, France, Japan, Turkey and the United States.