Tesco

This article is about the British multinational corporation. For other uses, see Tesco (disambiguation).

Tesco plc
Formerly
  • Tesco Stores (Holdings) Limited (1947–1981)[1]
  • Tesco Stores (Holdings) Public Limited Company (1981–1983)[2]
Company typePublic
LSE: TSCO
FTSE 100 Component
ISINGB00BLGZ9862
IndustryRetail
Founded1919; 105 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 plc (/ˈtɛs.koʊ/) is a British multinational groceries and general merchandise retailer headquartered in Welwyn Garden City, England.[8] The company was founded by Jack Cohen in Hackney, London, in 1919. In 2011, it was the third-largest retailer in the world measured by gross revenues[9][10] and the ninth-largest in the world measured by revenues. It has shops in Ireland, the United Kingdom, the Czech Republic, Hungary, and Slovakia. It is the market leader of groceries in the UK (where it has a market share of around 28.4%).[11][12]

Tesco has expanded globally since the early 1990s, with operations in 11 other countries in the world. The company pulled out of the US in 2013, but as of 2018 continues to see growth elsewhere. 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[13]) and premium "Tesco Finest" range.

Tesco is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

  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. ^ a b c d e "Annual Report 2023" (PDF). Tesco plc. Retrieved 11 February 2024.
  7. ^ "About us". Tesco. Retrieved 12 February 2024.
  8. ^ "Contacts". Tesco PLC. Archived from the original on 26 April 2016. Retrieved 20 January 2016.
  9. ^ Potter, Mark (16 February 2011). "Tesco to outpace growth at global rivals – study". Reuters. Archived from the original on 20 February 2011. Retrieved 25 February 2011.
  10. ^ "Global Powers of Retailing 2010" (PDF). Deloitte. Archived from the original (PDF) on 9 November 2012. Retrieved 18 August 2010.
  11. ^ "Our businesses". Tesco PLC. Archived from the original on 28 January 2018. Retrieved 13 April 2018.
  12. ^ Finch, Julia (2 February 2010). "Tesco opens its first zero carbon store". The Guardian. UK. Archived from the original on 28 September 2013. Retrieved 1 September 2010.
  13. ^ "Tesco: How one supermarket came to dominate". BBC News. Archived from the original on 26 September 2014. Retrieved 18 October 2014.