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Tesco
Tesco plc (/ˈtɛs.koʊ/) is a British multinational groceries and general merchandise retailer headquartered in the United Kingdom at its head offices in Welwyn Garden City, England. The company was founded by Sir Jack Cohen in Hackney, London, in 1919. In 2011, it was the third-largest retailer in the world measured by gross revenues and the ninth-largest in the world measured by revenues. It is the market leader of groceries in the UK (where it has a market share of around 28.4%). As well as the United Kingdom, Tesco has stores in Czechia, Ireland, Slovakia, the Isle of Man and Hungary.
Since the 1960s, Tesco has diversified into areas such as the retailing of books, clothing, electronics, furniture, toys, petrol, software, financial services, telecommunications and internet services. In the 1990s, Tesco re-positioned itself from being a downmarket high-volume low-cost retailer, attempting to attract a range of social groups with its low-cost "Tesco Value" range (launched 1993) and premium "Tesco Finest" range.
Tesco is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Jack Cohen, the son of Jewish migrants from Poland, founded Tesco in 1919 when he began to sell war-surplus groceries from a stall at Well Street Market, Hackney, in the East End of London. The Tesco brand first appeared in 1924. The name came about after Jack Cohen bought a shipment of tea from Thomas Edward Stockwell. He made new labels using the initials of the supplier's name (TES), and the first two letters of his surname (CO), forming the word TESCO.
After experimenting with his first permanent indoor market stall at Tooting in November 1930, Jack Cohen opened the first Tesco shop in September 1931 at 54 Watling Avenue, Burnt Oak, Edgware, Middlesex. Tesco was floated on the London Stock Exchange in 1947 as Tesco Stores (Holdings) Limited. The first self-service shop opened in St Albans in 1948 (which remained operational until 2010 before relocating to larger premises on the same street, with a period as a Tesco Metro), and the first supermarket in Maldon in 1956.
During the 1950s and 1960s, Tesco grew organically, and also through acquisitions, until it owned more than 800 shops. The company purchased 70 Williamson's shops (1957), 200 Harrow Stores outlets (1959), 212 Irwins shops (1960), 97 Charles Phillips shops (1964) and the Victor Value chain (1968) (sold to Bejam in 1986).
Jack Cohen's business motto was "pile it high and sell it cheap", to which he added an internal motto of "YCDBSOYA" (You Can't Do Business Sitting On Your Arse) which he used to motivate his sales force.
In May 1987, Tesco completed its hostile takeover of the Hillards chain of 40 supermarkets in the North of England for £220 million.
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Tesco AI simulator
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Tesco
Tesco plc (/ˈtɛs.koʊ/) is a British multinational groceries and general merchandise retailer headquartered in the United Kingdom at its head offices in Welwyn Garden City, England. The company was founded by Sir Jack Cohen in Hackney, London, in 1919. In 2011, it was the third-largest retailer in the world measured by gross revenues and the ninth-largest in the world measured by revenues. It is the market leader of groceries in the UK (where it has a market share of around 28.4%). As well as the United Kingdom, Tesco has stores in Czechia, Ireland, Slovakia, the Isle of Man and Hungary.
Since the 1960s, Tesco has diversified into areas such as the retailing of books, clothing, electronics, furniture, toys, petrol, software, financial services, telecommunications and internet services. In the 1990s, Tesco re-positioned itself from being a downmarket high-volume low-cost retailer, attempting to attract a range of social groups with its low-cost "Tesco Value" range (launched 1993) and premium "Tesco Finest" range.
Tesco is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Jack Cohen, the son of Jewish migrants from Poland, founded Tesco in 1919 when he began to sell war-surplus groceries from a stall at Well Street Market, Hackney, in the East End of London. The Tesco brand first appeared in 1924. The name came about after Jack Cohen bought a shipment of tea from Thomas Edward Stockwell. He made new labels using the initials of the supplier's name (TES), and the first two letters of his surname (CO), forming the word TESCO.
After experimenting with his first permanent indoor market stall at Tooting in November 1930, Jack Cohen opened the first Tesco shop in September 1931 at 54 Watling Avenue, Burnt Oak, Edgware, Middlesex. Tesco was floated on the London Stock Exchange in 1947 as Tesco Stores (Holdings) Limited. The first self-service shop opened in St Albans in 1948 (which remained operational until 2010 before relocating to larger premises on the same street, with a period as a Tesco Metro), and the first supermarket in Maldon in 1956.
During the 1950s and 1960s, Tesco grew organically, and also through acquisitions, until it owned more than 800 shops. The company purchased 70 Williamson's shops (1957), 200 Harrow Stores outlets (1959), 212 Irwins shops (1960), 97 Charles Phillips shops (1964) and the Victor Value chain (1968) (sold to Bejam in 1986).
Jack Cohen's business motto was "pile it high and sell it cheap", to which he added an internal motto of "YCDBSOYA" (You Can't Do Business Sitting On Your Arse) which he used to motivate his sales force.
In May 1987, Tesco completed its hostile takeover of the Hillards chain of 40 supermarkets in the North of England for £220 million.