Tesco Plans to Exit U.S. Fresh & Easy Chain: Hot Trends (Corrected)

Editor's Note: This piece has been updated from December 12, 2012, to correct the ticker for Tesco Plc (TSCDY), which was misidentified as TESO, an unrelated company.

NEW YORK ( TheStreet) -- Popular searches on the Internet include Tesco ( TESO) after the retailer announced it will most likely exit its U.S. grocery chain Fresh & Easy.

Tesco, the biggest retailer in Britain and the third-largest in the world, said it is reviewing its options for the struggling chain. The company said recently it has been approached by several potential buyers or partners in Fresh & Easy.

Tesco CEO Philip Clarke said, "It is now clear that Fresh & Easy will not deliver acceptable shareholder returns on an appropriate timeframe in its current form. Whilst the business has many positives, its journey to scale and acceptable returns will take too long relative to other opportunities."

Clarke added that all options are being considered -- including a sale, closure or partnership. Tesco has hired investment bank Greenhill to assist in its review of the chain.


Netflix ( NFLX) is trending after the video-on-demand service acquired exclusive U.S. rights to Walt Disney movies.

The three-year deal goes into effect in 2016. Starting immediately, Disney will also give Netflix non-exclusive streaming rights to more of its older films like "Alice in Wonderland" and "Pocahontas."

Terms of the deal were not disclosed, though some reports said Netlfix could pay more than $300 million a year for Disney films.


Yahoo! ( YHOO) is another popular search. The Internet company has announced the acquisition of video communication software firm OnTheAir.

OnTheAir allows users to have video conversations in a "television talk show" style format, where members of a chat group are called "on stage" by a host. It is a five-person start-up which just launched this past March. Its staff will join Yahoo!'s mobile team.


The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.

-- Written by Brittany Umar.

Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.

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