business news in context, analysis with attitude

Last Thursday, before going off on a four-day weekend, MNB took note of a Los Angeles Times story quoting Piper Jaffray senior analyst Mike Dennis as saying that Tesco’s Fresh & Easy Neighborhood Market format continues to struggle- - it isn’t doing enough sales to come close to justifying the enormous investment that Tesco has made in the US, “hasn’t established much brand recognition and has been forced to offer deeper-than-expected discounts to generate even sluggish store traffic.”

There was only one problem with this Times story, which was forwarded to me by an MNB user. It was more than a year old…and I didn’t notice the date on it when I read it. (Maybe that’s a good indication of why I needed the extra day off…)

Anyway, the expiration date on this story was pointed out to me by several MNB users, and I immediately took the piece down. I appreciate you folks noticing something that I did not … and apologize for the misstep.

KC's View: