Tesco
Foreign retail chains leave Turkey amid rise in competitiveness in local players
Turkish retail chain Be?endik, which bought 12 stores of Europe's supermarket chain last year, plans to complete the acquisition of 10 Tesco Kipa stores in Turkey by the fourth quarter, as many foreign retail chains have left Turkey in recent years as they had difficulties competing with local players.
Tesco reports $8.58 billion annual net loss
Britain's biggest retailer, supermarket group Tesco, announced April 22 that it had plunged massively into the red last year as it took a hit on the value of its property.
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