Tesco PLC is considering selling its struggling Polish arm as the British retailer focuses on its local operations, Bloomberg News reported Sept. 27, citing people familiar with the situation.
The company operates 348 stores in Poland as of June after closing 62 stores in 2018, the report said. In August, Tesco reportedly started downsizing its largest outlets in Poland. Bloomberg said the Polish unit is Tesco's largest in central Europe.
The deliberations are at an early stage and Tesco might decide against a sale, the sources reportedly said.
Tesco Poland did not immediately respond to S&P Global Market Intelligence's request for comment.
Tesco's stock rose as much as 2.28% to £2.46 on Sept. 27 before closing up 1.49% to £2.45.
