retail news in context, analysis with attitude

In the UK, the Telegraph reports that Tesco CEO Philip Clarke is headed to the US this week for what are believed to be negotiations that could result in the company finally being able to end its disastrous Fresh & Easy Neighborhood Market venture in the western US.

Among the companies said to be interested in all or part of Fresh & Easy are Aldi, Trader Joe's and even Walmart.

After having invested more than $1.5 billion in Fresh & Easy, Tesco put the business up for review last year, saying that it was possible that it could break it up and sell off parts, could take on a partner, sell off the whole thing, or just close the division. It is expected that Tesco will announce where the process stands - and even a final disposition - by April 17, when it posts its annual results.
KC's View:
Tesco seems to be a poster child for "epistemic closure" - it was so hemmed in by its own belief system that it was unable or unwilling to accept anything other than what it believed to be possible or factual .