Tesco

British multinational retailer

Tesco is a multinational retailer owned by Tesco PLC from the United Kingdom (UK).

Tesco plc
Formerly
  • Tesco Stores (Holdings) Limited (1947–1981)[1]
  • Tesco Stores (Holdings) Public Limited Company (1981–1983)[2]
Company typePublic
LSETSCO
FTSE 100 Component
ISINGB00BLGZ9862
IndustryRetail
Founded1919; 106 years ago (1919)
Hackney, London, England, UK
FounderJack Cohen
HeadquartersTesco House, Shire Park, Kestrel Way, Welwyn Garden City, Hertfordshire, England, UK
Number of locations
4,673 (2021)[3]
Key people
Products
Brands
RevenueIncrease £65.762 billion (2023)[6]
Decrease £2.630 billion (2023)[6]
Decrease £0.744 billion (2023)[6]
Total assetsIncrease £12.725 billion (2023)[6]
Total equityDecrease £12.230 billion (2023)[6]
Number of employees
330,000 (2024)[7]
Divisions
Websitetesco.com
tescoplc.com
Tesco in sixty-thousandths of Tomaszów Mazowiecki in Poland

History

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Tesco was started by Jack Cohen in 1919 . He had a stall at Well Street Market, in Hackney. He opened the first Tesco grocery store in 1931 in Edgware. His business grew very quickly and there were 100 Tesco stores by 1939. Jack Cohen's business motto was "pile it high and sell it cheap".[8] At first, Tesco only sold food in its stores, but in the 1990s it began to sell other items, such as mobile phones, DVDs and videos, clothing, and books. It now also operates petrol stations, banks and is an Internet service provider in the UK since 2012.

Operation

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There are different brands of Tesco stores, which are all different sizes. They go from small convenience stores to large hypermarkets. With more than 3,000 stores in the UK alone, it is one of the biggest retailers in the country. Tesco's website was also one of the first to let people buy things from the Internet.

The company that owns Tesco is called Tesco plc (public limited company) and is listed on the London Stock Exchange (LSE). It has opened stores in other countries within Europe and Asia. Countries with Tesco stores include Ireland, Hungary, Malaysia, and Thailand. Nowadays, Tesco is the third-largest retailer in the world when measured by profit and the fifth-largest by revenue.

References

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  1. "Certificate of incorporation". Companies House. 27 November 1947. Retrieved 6 August 2023.
  2. "Certificate of re-registration from Private to Public Limited Company". Companies House. 14 December 1981. Retrieved 6 August 2023.
  3. "Five Year Record". Tesco plc. Archived from the original on 25 March 2023. Retrieved 15 February 2023.
  4. Butler, Sarah (17 February 2015). "Tesco announces John Allan as new chairman". The Guardian. Archived from the original on 2 March 2022. Retrieved 28 August 2015.
  5. Wood, Zoe; Makortoff, Kalyeena (2 October 2019). "Boots 'lifer' to replace Dave Lewis at helm of Tesco". The Guardian. ISSN 0261-3077. Archived from the original on 30 June 2020. Retrieved 29 June 2020.
  6. 6.0 6.1 6.2 6.3 6.4 "Annual Report 2023" (PDF). Tesco plc. Retrieved 11 February 2024.
  7. "About us". Tesco. Retrieved 12 February 2024.
  8. O'Grady, Sean (16 December 2001). "Shirley Porter: Rich, flashy and corrupt with it. She's nothing like a Dame". The Independent. London. Archived from the original on 8 September 2011. Retrieved 13 December 2009.

Other website

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