Tesco facts for kids
Logo used since 1995
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Formerly
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| Traded as | LSE: TSCO FTSE 100 Component |
| ISIN | ISIN: [https://isin.toolforge.org/?language=en&isin=GB00BLGZ9862 GB00BLGZ9862] |
| Industry | Retail |
| Founded | 1919 Hackney, London, England, UK |
| Founder | Jack Cohen |
| Headquarters | Tesco House, Shire Park, Kestrel Way, Welwyn Garden City, Hertfordshire, England, UK |
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Number of locations
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4,673 (2021) |
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Key people
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| Revenue |  £65.762 billion (2023) |
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Operating income
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 £2.630 billion (2023) |
| £0.744 billion (2023) |
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| Total assets | £12,725 billion (2023) |
| Total equity | £12,230 billion (2023) |
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Number of employees
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330,000 (2024) |
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Tesco plc is a huge British company that sells groceries and many other things. Its main office is in Welwyn Garden City, England. In 2011, it was the third-largest shop chain in the world based on how much money it made. Tesco has shops in Ireland, the United Kingdom, the Czech Republic, Hungary, and Slovakia. It is the biggest grocery seller in the UK, with about 28.4% of the market.
Tesco started growing worldwide in the early 1990s. It used to have shops in 11 other countries. The company left the US in 2013, but it keeps growing in other places. Since the 1960s, Tesco has started selling many different things. These include books, clothes, electronics, furniture, toys, and petrol. They also offer financial services, phone services, and internet services. In the 1990s, Tesco changed its image. It used to be known for selling things cheaply in large amounts. Then, it started trying to attract all kinds of people. It did this with its low-cost "Tesco Value" range (started in 1993) and its fancy "Tesco Finest" range.
Tesco's shares are traded on the London Stock Exchange. It is also part of the FTSE 100 Index, which lists the 100 biggest companies on that stock exchange.
Tesco's Story: How It Grew
Starting Small: The Beginnings of Tesco
Jack Cohen started Tesco in 1919. He was the son of immigrants from Poland. He began by selling leftover groceries from World War I from a small stall. This stall was at Well Street Market in Hackney, East London. The name "Tesco" first appeared in 1924. Jack Cohen came up with the name after buying tea from a supplier named Thomas Edward Stockwell. He took the first letters of the supplier's name (TES) and the first two letters of his own last name (CO). This created the name TESCO.
In November 1930, Jack Cohen tried out his first indoor market stall in Tooting. Then, in September 1931, he opened the very first Tesco shop. It was located at 54 Watling Avenue, Burnt Oak, Edgware, Middlesex. Tesco became a public company on the London Stock Exchange in 1947. It was called Tesco Stores (Holdings) Limited. The first shop where customers could pick their own items (self-service) opened in St Albans in 1948. This shop stayed open until 2010. The first large supermarket opened in Maldon in 1956.
Growing Bigger: Tesco's Expansion
During the 1950s and 1960s, Tesco grew a lot. It opened many new shops and also bought other shop chains. Eventually, it owned more than 800 shops. The company bought 70 Williamson's shops in 1957. It also bought 200 Harrow Stores in 1959, 212 Irwins shops in 1960, and 97 Charles Phillips shops in 1964. Tesco also bought the Victor Value chain in 1968.
Jack Cohen's main business idea was "pile it high and sell it cheap." This meant selling a lot of products at low prices.
In May 1987, Tesco bought the Hillards chain. This chain had 40 supermarkets in the North of England. In 1994, Tesco bought the supermarket chain William Low. This helped Tesco grow more in Scotland, where it was not as strong before.
Tesco started its loyalty card program, called 'Clubcard', in 1995. This allowed customers to collect points. Later, it also started an Internet shopping service. In 1996, the look of the Tesco logo changed to the one we see today. Terry Leahy became the new Chief Executive in 1997.
In March 1997, Tesco announced it would buy the shops of Associated British Foods. This included the Quinnsworth, Stewarts, and Crazy Prices chains in Ireland and Northern Ireland. This deal was approved in May 1997.
Trying New Things: Tesco's Diversification
Tesco started selling more than just food in the 1960s. It began to sell household goods and clothes under the Delamare brand. In 1974, it opened its first petrol station.
In 2001, Tesco got involved in online grocery selling in the US. It bought a 35% share in a company called GroceryWorks. In 2002, Tesco bought 13 large HIT supermarkets in Poland. It also made a big move into the UK's small convenience shop market. It bought T&S Stores, which owned 870 convenience shops like One Stop.
In June 2003, Tesco bought the C Two-Network in Japan. It also bought most of the shares in the Turkish supermarket chain Kipa. In January 2004, Tesco bought Adminstore. This company owned 45 convenience shops in and around London.
In Thailand, Tesco Lotus was a partnership between the Charoen Pokphand Group and Tesco. However, the CP Group sold its shares in 2003. In late 2005, Tesco bought the remaining 21 Safeway/BP shops.
In 2006, Tesco planned to enter the United States market. It wanted to open a chain of small grocery shops called Fresh & Easy in Western states. Tesco eventually left the US market in 2013 because the shops were not doing well.
Tesco in the 2010s and Beyond
In 2010, Tesco started helping to fund a small film studio. This studio made movies that were sold only at Tesco. The first movie, Paris Connections, came out in September.
In 2013, Tesco confirmed it was leaving its US market (Fresh & Easy) shops. This cost the company a lot of money. In September, Tesco announced it would sell the business. That same month, Tesco launched its first tablet computer, called Hudl. Tesco also bought the restaurant chain Giraffe.
In 2015, Tesco sold its Blinkbox video service and its home phone and internet business to TalkTalk. It also closed its Blinkbox Books service.
In 2016, Tesco said it wanted to sell Dobbies Garden Centres, Giraffe Restaurants, and Harris + Hoole. It wanted to focus more on its main supermarket business.
In 2017, Tesco announced it would join with Booker Group, Britain's biggest wholesaler. People worried this might make Tesco too powerful in the market. In April, the company sold its in-shop opticians' business. In June, Tesco announced it would cut costs. This meant reducing its staff by over 1,200 workers. The company aimed to save £1.5 billion.
In 2019, Tesco announced more cost-cutting plans. This included closing food counters in 90 shops, affecting about 9,000 workers. In October 2019, Tesco said its CEO, Dave Lewis, would step down in 2020. Ken Murphy would take his place.
In 2023, Tesco bought all nine Shoprite shops on the Isle of Man.
Tesco in the UK
As of April 2023, here's a look at Tesco's shops in the UK:
| Type of Store | Number of Stores | Total Size (square feet) | Percentage of Space |
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| Large Store (Extra and Superstore) | 805 | 31,427,000 | 67.1% |
| Convenience (Express) | 1,998 | 5,344,000 | 11.4% |
| Dotcom only | 6 | 716,000 | 2.28% |
| One Stop | 712 | 1,169,000 | 2.5% |
| Booker | 191 | 8.181,000 | 17.47% |
| Total | 3,712 | 46,837,000 | 100.00% |
Different Types of Tesco Shops
Tesco Extra: The Big Ones
Tesco Extra shops are very large supermarkets. They are usually found outside of town centers. These shops sell almost everything Tesco offers. This includes groceries and many non-food items. Some Extra stores are also in city centers. The biggest Tesco Extra in England is in Walkden. It has a huge floor space of about 185,500 square feet.
Tesco Superstores: Standard Supermarkets
Tesco Superstores are regular large supermarkets. They sell groceries and a smaller range of non-food items. These shops have always been called 'Tesco'. However, a new shop in Liverpool was the first to use the name 'Tesco Superstore' above the door.
Tesco also has cafes inside many of its shops. From 2013, it started adding new restaurants called "Decks Carvery."
Tesco Express: Quick and Convenient
Tesco Express shops are smaller, local convenience shops. They are about 2,200 square feet on average. They mainly sell food, focusing on items like sweets, crisps, chocolate, and processed food. This is because they are small and need to make the most money from their space. They also sell everyday essentials. You can find them in busy city centers, small shopping areas, towns, villages, and at Esso petrol stations. In 2010, it was found that Tesco Express shops sometimes charged more than larger Tesco stores. A spokesperson said this was "because of the difference in costs of running the smaller shops."
Tesco Fuel Stations
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Tesco started selling petrol in 1974. Most large Tesco Superstores and Extra shops have petrol stations. They sell different types of petrol. Tesco has also started selling biofuels. These are blends of petrol with bioethanol and diesel with biodiesel. In 1998, Tesco and Esso (part of ExxonMobil) teamed up. Tesco now runs the shops at some Esso petrol stations. Esso operates the fuel pumps. As of 2013, there were 200 joint Tesco Express/Esso sites in the UK.
Tesco Online Shopping
In the United Kingdom, Tesco offers a home shopping service. You can order groceries through the Tesco.com website. In May 1984, in Gateshead, England, a woman named Jane Snowball used a computer system called "Videotex" to buy groceries from her local Tesco. This was the world's first recorded online shopping transaction from home. By November 2006, Tesco was the only food shop to make money from online shopping. Since 2006, Tesco has used special "dark stores." These are warehouses just for packing online grocery orders.
Tesco Clubcard: Loyalty Program
Tesco launched its customer loyalty program, the Tesco Clubcard, in 1995. Many people say this program was key to Tesco becoming the UK's biggest supermarket. It changed how supermarkets in the country did business.
Clubcard holders earn one point for every £1 they spend in a Tesco shop or on Tesco.com. They earn one point for every £2 spent on fuel. Customers can also earn points by using a Tesco Credit Card, Tesco Mobile, or other Tesco services. Each point is worth 1p when used in shops. However, points can be worth up to four times more when used with Clubcard deals. These deals offer discounts on holidays, day trips, and more.
One Stop Shops
One Stop shops are some of the smallest Tesco stores. They are even smaller than Tesco Express. Until 2018, they were the only Tesco shop format in the UK that did not have "Tesco" in their name. The One Stop brand and its original shops were part of the T&S Stores business that Tesco bought. Unlike many others, these shops kept their old name. Later, other shops bought by Tesco were also changed to the One Stop brand. Some One Stop shops have Tesco Bank cash machines.
There has been some discussion because prices in these shops, often in poorer areas, can be higher than in nearby Tesco-branded shops. The Times newspaper pointed this out in 2010. Tesco replied that One Stop is a separate business within the Tesco Group. It has its own supply chain and different operating costs. One Stop's prices aim to match its closest competitors.
Tesco's Other Businesses
Booker Group
Tesco bought the food wholesaler Booker in March 2018. Booker also owns other brands like Budgens, Londis, and Premier Stores. These operate as franchises.
Tesco Bank
In the United Kingdom, Tesco offers financial services through Tesco Bank. This used to be a partnership with The Royal Bank of Scotland. Tesco Bank offers credit cards, loans, savings accounts, and different types of insurance. These are advertised in Tesco shops and on its website. In 2008, Tesco announced it would buy out the Royal Bank of Scotland's share in the company. This move into banking helped Tesco grow outside of just selling goods.
F&F Clothing
F&F started in 2001 as Florence & Fred in Tesco's UK and Ireland supermarkets. In 2010, the brand began opening its own stores, starting in London. In the early to mid-2010s, it grew to have stores and online sales in many countries.
In the UK, F&F had its own website until 2016. Then it became part of Tesco Direct, which closed in August 2018. After that, F&F had no online presence in the UK until it partnered with Next PLC a year later. Tesco then launched a smaller F&F section on Tesco.com.
Tesco Mobile
Tesco runs a mobile phone business in the United Kingdom, Ireland, Slovakia, Hungary, and the Czech Republic. It started in the UK in 2003 as a partnership with O2. Tesco Mobile uses O2's network in the UK. In Hungary, it uses Vodafone Hungary's network, and in Ireland, it uses Three Ireland's network. Tesco Mobile does not own its own network. By January 2011, Tesco announced it had over 2.5 million mobile customers in the UK.
Tesco also used to offer home telephone and broadband internet services. In January 2015, Tesco sold these services to TalkTalk. Its customers were moved to TalkTalk by 2016.
Tesco Tech Support
Tesco bought a small IT support company called The PC Guys in 2007. This allowed them to launch Tesco Tech Support in December 2008.
Past Tesco Businesses
Tesco Home 'n' Wear
In the 1960s, Tesco created a division for non-food items called Tesco Home 'n' Wear. It had its own shops and sections within larger Tesco stores. Even though Tesco still sells non-food items, these separate shops closed. The name was no longer used when Tesco Extra stores were launched.
Tesco Homeplus
In May 2005, Tesco tried a new type of shop called Tesco Homeplus. These shops only sold non-food items. They were like warehouse-style stores in retail parks. Tesco started this because not many customers had a Tesco Extra nearby. It was also easier to find large spaces for non-food shops. By 2014, there were 12 Homeplus shops in the UK. However, in 2012, it was reported that Tesco wanted to close this business to focus on groceries. All Homeplus shops closed by June 2015.
Tesco Metro
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Tesco Metro shops were in between Tesco superstores and Tesco Express shops in size. They were usually in town centers and cities. They were designed for both larger weekly shops and quick top-up shopping.
In May 2021, Tesco announced it would stop using the Metro brand. Only 31% of customers were using these stores for big shops. 89 Metro locations became Tesco Express stores, and the other 58 became standard superstores.
Dobbies Garden Centres
Dobbies is a chain of garden centers. Tesco bought Dobbies in 2008. The company continued to operate under its own name. In June 2016, Tesco sold Dobbies to a group of investors for £217 million.
Harris + Hoole Coffee Shops
In 2012, Tesco invested in a new coffee shop chain called Harris + Hoole. Tesco took full ownership of the business in February 2016. In June 2016, it agreed to sell it to Caffè Nero.
Giraffe Restaurants
Giraffe is a restaurant chain in the United Kingdom. Tesco bought it in March 2013. Tesco sold the chain to Boparan Holdings in June 2016.
Euphorium Bakery
Euphorium Bakery opened a small shop inside Tesco's Kensington store in 2012. In 2013, Tesco bought a share in the business. It bought the rest of the company in April 2015. In August 2016, Tesco sold Euphorium's high street shops and factories to other companies.
Jack's Discount Stores
In 2018, Tesco launched a separate budget shop chain called Jack's. This was to compete with other discount stores like Lidl and Aldi. The first Jack's store opened in Chatteris, Cambridgeshire in September 2018. In January 2022, Tesco announced it would close its Jack's stores. Some stores closed, and others were changed into Tesco Superstores.
Tesco Around the World
Tesco grew from the United Kingdom to 11 other countries. It left the United States in 2013, but it continued to grow in other places. Tesco's plan for international growth was to work with local partners. For example, it partnered with Samsung Group in South Korea and Charoen Pokphand in Thailand. It also hired many local people for management jobs. Tesco also bought smaller companies as part of its plan.
Where Tesco Operates Now
The table below shows how many stores Tesco has and their total size in different countries. The numbers are from April 2012.
| Country | Started in | Stores | Area (m2 (sq ft)) | Average Store Area (m2 (sq ft)) | Change in Stores 2015/16 |
|---|---|---|---|---|---|
| Czech Republic | 1996 | 322 | 538,559 (5,797,000) | 1,673 (18,003) | 3 |
| Hungary | 1994 | 206 | 678,285 (7,301,000) | 3,202 (34,439) | 2 |
| Ireland | 1997 | 148 | 319,586 (3,440,000) | 2,333 (25,109) | 1 |
| Slovakia | 1996 | 154 | 336,959 (3,627,000) | 2,808 (30,225) | 7 |
| United Kingdom | 1919 | 3,433 | 3,585,314 (38,592,000) | 1,205 (12,972) | 27 |
| Total (not including UK) | 3,120 | 6,851,321 (73,747,000) | Mean: 2,029 (21,844) | 84 |
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| Total (including UK) | 6,553 | 10,436,635 (112,339,000) | Mean: 1,643 (17,688) | 57 |
Tesco in the Czech Republic
Tesco opened its first store in the Czech Republic in 1996. It now has over 300 stores there. Tesco entered the Czech Republic by buying Kmart's shops and changing them into Tesco stores. Tesco also wants to sell more non-food items. It has opened petrol stations and offers financial services in the Czech Republic.
Tesco in Hungary
Tesco started in Hungary in 1994. It bought a small local supermarket group called S-Market. It opened its first large hypermarket in Budapest in 1996. Tesco operates over 200 stores in Hungary. Tesco Hungary also sells clothes and offers financial services.
Tesco in Slovakia
Tesco Slovakia started in 1996. It now has 123 stores. Tesco Slovakia has been focusing on organic products. In April 2010, the first Tesco Extra in Central Europe opened in Bratislava, Slovakia. This was a test project for Tesco in the region. It included the first self-service checkouts in Central Europe. There are now seven Tesco Extra stores in Slovakia.
Tesco in Ireland
Tesco first operated in Ireland in the early 1980s. It sold its operations there in 1986. Tesco came back to Ireland in 1997. It bought Power Supermarkets Ltd. It now has 154 stores across Ireland. Like in the UK, these stores offer home delivery for groceries. They also sell petrol, mobile phones, and financial services. Tesco's Clubcard loyalty program is also available in Ireland. Tesco had about 21% of the Irish grocery market in 2019. Its main competitors are Dunnes Stores and SuperValu.
Tesco Ireland says it buys the most Irish food, about €1.5 billion each year. Tesco Ireland has several Tesco Extra hypermarkets. The largest Tesco hypermarket in Europe opened in Dundalk in County Louth in November 2010. It has a floor space of 18,500 square meters.
Tesco in Spain, Portugal, and Gibraltar
Tesco supplies six stores in Spain, Portugal, and Gibraltar. These stores operate under the name The Food Company. They started in 2019. All 7,500 products in these stores come from Britain.
Tesco in India
Tesco has a small presence in India. It has a service center in Bangalore. In 2008, Tesco announced it would invest £60 million to open a wholesale business in Mumbai. This was with the help of the Tata Group. In 2014, Tesco became the first foreign supermarket to enter India. The stores operate under the names Star Bazaar and Star Daily supermarkets.
Tesco in Pakistan
In February 2017, Tesco announced a partnership with Limestone Private Limited. This company owns the Alpha Superstores chain. This partnership means Tesco products are sold in Alpha Supermarket stores in Pakistan.
Past International Operations
Tesco in China
Tesco bought a 50% share in the Hymall chain in September 2004. In December 2006, it increased its share to 90%. Most of Tesco China's stores were around Shanghai. In May 2014, Tesco made a deal with China Resources Enterprise (CRE). They combined Tesco's 131 stores with CRE's almost 3,000 stores. Tesco owned 20% of this new business, and CRE owned 80%. This made it the largest food retailer in China. In February 2020, Tesco announced it would leave the China market. It sold its 20% share to CRE.
Tesco in France
Tesco owned a French food retailer called Catteau between 1993 and 1997. This chain had 92 stores in northeast France. Tesco also had a "Vin Plus" shop in Calais, which sold wine, beer, and spirits. This shop closed in August 2010.
Tesco in Japan
Tesco Japan started in 2003. It bought C Two stores and later Fre'c stores. Tesco focused on small corner shops in Japan, similar to its Express format. It did not open large hypermarkets. In August 2011, Tesco announced it would sell its Japanese stores to ÆON. This was because only half of its stores in the Greater Tokyo Area were making money. Tesco's market share in Japan was never more than 1 percent.
Tesco in Malaysia
Tesco opened its first store in Malaysia in May 2002. It was a hypermarket in Puchong, Selangor. Tesco Malaysia operated 49 Tesco and Tesco Extra stores. Tesco partnered with a local company, Sime Darby Berhad. In April 2013, Tesco Malaysia launched its online grocery shopping service. In 2020, Tesco agreed to sell its Malaysian business to the Thailand-based Charoen Pokphand Group. After this sale, Tesco Malaysia changed its name to Lotus's.
Tesco in Poland
Tesco entered the Polish market in 1995. It bought local Polish supermarket chains. It opened its first hypermarket in Wrocław Bielany in 1998. At its peak, Tesco operated over 450 stores in Poland. It also had an online shopping service. Tesco Poland sold many brands, including its own products and local produce. In November 2019, Tesco announced it would sell all its operations in Poland. This was after years of losing money. In 2020, Tesco Poland was bought by Salling Group. The last remaining stores closed in October 2021.
Tesco in South Korea
Tesco started its South Korean operations as "Homeplus" in 1999. It partnered with Samsung. Tesco owned 94% of the shares in this business. It was the second-largest retailer in South Korea. In May 2008, Tesco agreed to buy 36 hypermarkets from E-Land. This was Tesco's biggest single purchase. It made Tesco the second largest retailer in the country. Most of these stores were changed to Homeplus outlets. In September 2015, the company was sold to MBK Partners, a South Korean investment firm.
Tesco in Thailand
Tesco entered Thailand in 1998. It operates through 380 stores as part of a partnership with Charoen Pokphand. The operation was named "Tesco Lotus". This partnership ended in 2003 when Charoen Pokphand sold its shares to Tesco. Tesco Lotus says it serves 20 million customers every month. It also says that 97% of its goods come from Thailand. By March 2013, Tesco's operations in Thailand were making £3 billion in sales. This made it one of the company's biggest businesses outside the UK. Tesco agreed to sell its Thai business to Charoen Pokphand Group. After this sale, Tesco Lotus changed its name to Lotus's.
Tesco in Turkey
Tesco entered the Turkish market in 2003. It uses the name "Tesco Kipa". Tesco focused on building up its business in Turkey. It also introduced the Tesco Express format there in 2006. In June 2016, Tesco announced it would sell its Turkish stores to its competitor, Migros Türk.
Tesco in the United States
Tesco entered the United States grocery market in 2007. It opened a new chain of convenience stores called Fresh & Easy. These were on the West Coast (Arizona, California, and Nevada). The first store opened in Hemet, California in November 2007. Tesco planned to open 100 more stores in the first year. In September 2013, Tesco announced it would sell 150 of its 200 stores to a private investment firm. The remaining stores were expected to close. The last Fresh & Easy store closed in 2015.
How Tesco Works
Tesco's Business Plan
According to a retail expert, Tesco has achieved something unique. It has managed to appeal to all types of customers. One way it does this is by using its own-brand products. These include the fancy "Finest" range, the regular Tesco brand, and the low-price "Value" range. These brands cover many products, like food, drinks, home goods, clothes, and even mobile and financial services. Tesco also has two vegan ranges called "Plant Chef" and "Wicked Kitchen."
When Terry Leahy became CEO in 1997, Tesco started using the phrase "The Tesco Way." This described the company's main goals and values. This phrase became common for Tesco as it grew in the UK and worldwide. It showed that the company was focusing on people, both customers and employees.
A key part of Tesco's growth has been its smart use of technology. It was one of the first to use self-service checkouts. It also used cameras to help reduce queues. Tesco was also an early adopter of NFC contactless payment card technology. In 2016, Tesco created a mobile payment app called PayQwiq. This allowed customers to pay with their phones in stores.
Tesco's Money Performance
All numbers below are for Tesco's financial years, which end in late February.
| 52/3 weeks ended | Sales (£m) | Profit before tax (£m) | Profit for year (£m) | Earnings per share (p) |
|---|---|---|---|---|
| 25 February 2023 | 65,762 | 2,076 | 744 | 10.05 |
| 26 February 2022 | 61,344 | 2,197 | 1,483 | 19.34 |
| 27 February 2021 | 57,887 | 825 | 6,147 | 63.80 |
| 29 February 2020 | 64,760 | 1,315 | 973 | 9.99 |
| 15 February 2019 | 63,911 | 1,674 | 1,320 | 13.65 |
| 25 February 2018 | 57,491 | 1,298 | 992 | 14.77 |
| 25 February 2017 | 55,917 | 145 | (54) | (0.49) |
| 28 February 2016 | 53,933 | 202 | 129 | 1.70 |
| 28 February 2015 | 62,284 | (6,376) | (5,766) | (70.82) |
| 22 February 2014 | 70,894 | 3,054 | 2,259 | 32.05 |
| 23 February 2013 | 64,826 | 3,549 | 3,453 | 35.97 |
| 25 February 2012 | 64,539 | 3,985 | 2,814 | 34.98 |
| 26 February 2011 | 67,573 | 3,535 | 2,671 | 33.10 |
| 27 February 2010 | 62,537 | 3,176 | 2,336 | 31.66 |
| 28 February 2009 | 54,300 | 3,128 | 2,166 | 28.92 |
| 23 February 2008 | 47,298 | 2,803 | 2,130 | 26.95 |
| 24 February 2007 | 46,600 | 2,653 | 1,899 | 22.36 |
| 25 February 2006 | 38,300 | 2,210 | 1,576 | 19.70 |
| 26 February 2005 | 33,974 | 1,962 | 1,366 | 17.44 |
| 28 February 2004 | 30,814 | 1,600 | 1,100 | 15.05 |
| 22 February 2003 | 26,337 | 1,361 | 946 | 13.54 |
| 23 February 2002 | 23,653 | 1,201 | 830 | 12.05 |
| 24 February 2001 | 20,988 | 1,054 | 767 | 11.29 |
| 26 February 2000 | 18,796 | 933 | 674 | 10.07 |
| 27 February 1999 | 17,158 | 842 | 606 | 9.14 |
| 28 February 1998 | 16,452 | 760 | 532 | 8.12 |
Even during a recession, Tesco made record profits for a British retailer in 2010. Its profits before tax went up by 10.1% to £3.4 billion. Tesco then planned to create 16,000 new jobs. In 2011, the company reported its lowest UK sales figures in 20 years. This was because people were spending less on non-food items. Also, budget rivals were growing.
By 2014, Tesco seemed to have lost some of its popularity. Its share price dropped as it faced competition from stores like Aldi and Lidl. In October 2014, Tesco announced that it had previously reported its profits as £250 million higher than they actually were. This mistake caused the company's stock market value to drop by almost £2.2 billion. The reported profit overstatement was later changed to £263 million. This was found to be because Tesco had recorded money from suppliers earlier than it should have.
According to Kantar Worldpanel, Tesco's share of the UK groceries market was 26.9% in March 2023. This was a slight decrease from 27.4% in March 2022.
| Supermarket | Market share March 2023 |
+/- from March 2022 |
|---|---|---|
| Tesco | 26.9% | 0.5% |
| Sainsbury's | 14.8% | 0.3% |
| Asda | 14.3% | 0.2% |
| Morrisons | 8.8% | 0.7% |
| Aldi | 9.9% | 1.3% |
| Lidl | 7.4% | 1.0% |
In the wider UK retail market, Tesco's sales make up about one pound out of every ten spent in British shops. In 2007, it was reported that its share was even larger. In 2006, Inverness was called "Tescotown." This was because more than 50p out of every £1 spent on food there was at its three Tesco shops. By 2014, competition from other shops caused Tesco's market share to fall to 28.7%. This was its lowest level in ten years.
Tesco's Social Responsibility
Tesco has promised to be a responsible company. In 2006, it gave 1.87% of its profits before tax to charities and local community groups. This is a good amount compared to some other companies. Will Hutton, a business leader, praised Tesco in 2007. He said they were leading the discussion on company responsibility.
In 1992, Tesco started a "computers for schools scheme." It offered computers in exchange for vouchers. Customers received these vouchers and donated them to schools and hospitals. By 2004, £92 million worth of equipment had gone to these organizations. This program was also used in Poland.
In 2009, Tesco used the phrase "Change for Good" in its advertising. This phrase is a trademark of Unicef for charity use. Unicef said that Tesco was trying to make money from one of their campaigns. They asked the public to think carefully about who they support.
Tesco's own-brand personal care and household products are "cruelty-free." This means they are not tested on animals.
In June 2011, Tesco announced it was working with 2degrees Network. They wanted to create an online hub. This was part of their goal to reduce their supply chain's carbon footprint by 30% by 2020.
In September 2011, a Greenpeace report said that Tesco supermarkets in China were selling vegetables. These vegetables had pesticides at levels that were too high or were illegal.
Tesco's Advertising
A famous advert from the 1980s was "Checkout 82." It showed a till printing a receipt with prices. This advert had synthpop music and people singing "Check it out, check it out."
Adverts in the early 1990s featured a man named David, played by Dudley Moore. He was looking for free-range chickens from France. He discovered many goods from around the world to buy at Tesco. Later adverts in the 2000s included many famous people.
Tesco's main advertising slogan is "Every little helps." Its adverts in print and on TV usually show products against a white background. A price or text like "Tesco Value" is shown on a red circle.
Tesco's in-shop magazine is one of the most widely read magazines in the United Kingdom. It had a circulation of 1.9 million in 2013.
In November 2013, Tesco announced it would use face-scanning technology. This technology would be at all 450 of its UK petrol stations. It would show targeted adverts to individual customers.
Tesco Chairmen
- 1947–1970: Sir Jack Cohen
- 1970–1973: Hyman Kreitman
- 1973–1985: Sir Leslie Porter
- 1985–1997: Lord MacLaurin
- 1997–2004: John Gardiner
- 2004–2011: Sir David Reid
- 2011–2015: Richard Broadbent
- March 2015–present: John Allan
Images for kids
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Countries served by Tesco stores: Currently operating, Previously operated
See also
In Spanish: Tesco para niños
- List of supermarket chains in the United Kingdom
- Tesco Town
- Tesco Everyday Value
- Tesco Venture Brands
