Private Label Buyer just published its February issue and the cover story is an excellent article by Randy Hofbauer on Tesco’s El Segundo, California, based Fresh & Easy.
Fresh & Easy Neighborhood Market seeks to offer fresh, convenient private label products at prices everyone can afford.
The world was a very different place two years ago when British retailer Tesco launched Fresh & Easy Neighborhood Market in the United States. Consumer confidence was strong back then, and Tesco was certain Americans were ready to welcome an innovative new retail format: a small-footprint store offering semi-upscale fresh foods at discount prices.
Of course, few companies — including Tesco — could have predicted back then that the United States was on the brink of the greatest economic disaster since the Great Depression.
“We certainly didn’t anticipate the severity of the downturn we’re seeing on the West Coast,” said Tim Mason, president and CEO of El Segundo, Calif.-based Fresh & Easy, in Tesco’s 2009 Annual Report (analyzing Tesco’s performance in the financial year ending Feb. 28, 2009). “But we’re now adjusting to the new environment.”