Tesco Plc

Tesco Plc

The UK supermarket sector is dominated today by Tesco. They are the UK's largest retailer and has biggest percentage share of the market. Due to a huge increase in profits in recent years it is now the world's third largest grocery retailer and is said to be the fourth largest retailer in the world behind stores like Wal-Mart and Home Depot in the US and Carrefour of France.

Tesco has become one of the world's international leading retailers due to its expansion into different formats, different markets and different sectors. They have diversified into clothing, consumer financial services, telecoms, insurance, Internet services and consumer electronics. They even offer DVD rentals through Love Film and music downloads.

Tesco stores can be found in virtually every city and town in the UK. They are divided into different formats.

• Tesco Supermarkets - Tesco superstores account for the majority of stores across the UK. Generally they are located on the edge of town.

• Tesco Extra - Extra stores are hypermarkets that usually stock all Tesco product ranges including clothing, electronics and all non food items.

• Tesco Metro - these stores are located in city centres or town locations and are sized between a normal Tesco supermarket and their Express stores.

• Tesco Express - these are convenience stores located usually in residential areas or on petrol station forecourts.

• Tesco Homeplus - these are being trialled by Tesco. They do not sell food but offer all Tesco's ranges in warehouse style stores in retail parks.

Tesco Personal Finance was formed in 1997 and is a telephone and internet based commercial bank. It was set up as a joint venture between the Tesco group and the Royal Bank of Scotland. Through the stores they promote credit cards, loans, savings accounts, mortgages and insurance.

In 2000 Tesco.com was formally launched although Tesco has operated on the internet since 1994. The introduction of the Tesco Direct catalogue in 2007 has allowed customers to purchase over the phone, on the internet or in some Tesco Extra stores, and have the products delivered to their home or local Tesco Extra store.

History of Tesco Plc

Tesco was founded by Jack Cohen in 1919 when he began to sell surplus groceries from a stall in East London. He then went on to open the first Tesco store in Edgware, North London and Tesco Stores Limited became a private limited company shortly after in 1932.

The growth of Tesco steadily rose through the decades and in 1979 annual sales reached £1 billion and then £2 billion in 1982. In 2005 the company announced annual profits of £2 billion.

During the 90s Tesco launched many new initiatives that saw the company do even better. These included the Tesco Clubcard, 24 hour trading, the first Extra store in Essex and the first Tesco Express store. It launched new ranges such as its Organic range of food and Tesco Value products. It also entered new countries such as Hungary, Poland, Czech Republic, the Republic of Ireland and South Korea.

Login or Register (for FREE) to search and buy a checkSURE Company Credit Report on Tesco Plc