A branch of Tesco built inside the Hoover Building in Perivale, London (now a listed building)
Jack Cohen, the son of Jewish emigrants from Poland, founded Tesco in 1919 when he began to sell surplus groceries from a stall at Well Street Market, Hackney, in the East End of London.[14] 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 first three letters of the supplier's name (TES), and the first two letters of his surname (CO), forming the word TESCO.[9] The first Tesco store was opened in 1929 in Burnt Oak, Edgware, Middlesex. Tesco was floated on the London Stock Exchange in 1947 as Tesco Stores (Holdings) Limited.[14] The first self-service store opened in St Albans in 1956 (which remained operational until 2010 before relocating to a larger premises on the same street, with a period as a Tesco Metro),[15] and the first supermarket in Maldon in 1956.[14]
During the 1950s and the 1960s Tesco grew organically, and also through acquisitions, until it owned more than 800 stores. The company purchased 70 Williamson's stores (1957), 200 Harrow Stores outlets (1959), 212 Irwins stores (1960, beating Express Dairies' Premier Supermarkets to the deal), 97 Charles Phillips stores (1964) and the Victor Value chain (1968) (sold to Bejam in 1986).[16]
Originally specialising in food and drink, it has diversified into areas such as clothing, electronics, financial services, telecoms, retailing and renting DVDs,[11] CDs, music downloads, Internet services and software.
Jack Cohen's business motto was "pile it high and sell it cheap",[17] 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.[17][18]
In May 1987, Tesco completed its hostile takeover of the Hillards chain of 40 supermarkets in the North of England for £220 million.[19]
In 1994, the company took over the supermarket chain William Low, successfully fighting off Sainsbury's for control of the Dundee-based firm, which operated 57 stores. This paved the way for Tesco to expand its presence in Scotland, which was weaker than in England. In 2006, Inverness was branded as "Tescotown",[20][21] because well over 50p in every £1 spent on food is believed to be spent in its three Tesco stores.[22]
Tesco introduced a loyalty card, branded 'Clubcard', in 1995 and later an Internet shopping service. As of November 2006, Tesco was the only food retailer to make online shopping profitable.[23] In 1996 the typeface of the logo was changed to the current version with stripe reflections underneath, whilst the corporate font used for store signage was changed from the familiar "typewriter" font that had been used since the 1970s. Terry Leahy assumed the role of Chief Executive on 21 February 1997, the appointment having been announced on 21 November 1995.[24][25]
On 21 March 1997 Tesco announced the purchase of the retail arm of Associated British Foods, which consisted of the Quinnsworth, Stewarts and Crazy Prices chains in the Ireland and Northern Ireland, plus associated businesses, for £640 million.[26] The deal was approved by the European Commission on 6 May 1997.[27] This acquisition gave it both a major presence in (and marked a return to) the Republic of Ireland and a larger presence in Northern Ireland than Sainsbury's, which had begun its move into Northern Ireland in 1995.
In 1997, Tesco and Esso (part of Exxonmobil) formed a business alliance that included several petrol filling stations on lease from Esso, with Tesco operating the attached stores under their Express format. In turn, Esso operates the forecourts and sells their fuel via the Tesco store. 200 Tesco/Esso sites now exist across the UK.[citation needed]
2000 to 2010[edit]
The company was the subject of a letter bomb campaign lasting five months from August 2000 to February
youngest ever ambassador for the Save the Children Fund, joining the organisation. Tesco PLC – Profit-making In 1919, a man called Jack Cohen started by selling groceries from a stand in London to owning now one of the biggest supermarkets in the world. It wasn’t until 1924 when Jake’s own-brand, Tesco Tea, was selling in grocery stores. After a few years Jack opened his first Tesco shop in Burnt Oak, Edgware, and north London that only sold dry goods. In 1934 Jack had bought a plot…
SERVICE PEOPLE Tesco utilize huge efforts in fulfilling every needs and wants of their customers at any cost. Thus, to provide more sufficient services they provide various facilities to consumers which one is the Internet shopping. De Kare-Silver (2000) states that Tesco learn about internet shopping and home delivery and that service levels and interactions take place are a long way from their potential gaining success in providing customer satisfaction. The website offers the facilities of…
PEST AND SWOT ANALYSIS ON TESCO PEST and SWOT Analysis on Tesco PEST and SWOT Analysis on Tesco Introduction of Tesco Tesco is a mighty retail brand. It has a status for worth for cash, convenience and a broad variety of goods all in one store. There has been an important boost of number of Tesco retail stores inside the UK, from 692 stores in year 2001 to 1780 stores in year 2005. Also with the introduction of the distinct stores for example Tesco Metro and articulate it has made…
1. Marketing mix using Tesco Poland as an example 5 1.1 Products 5 1.2 Price 6 1.3 Place 6 1.4 Promotion 7 1.5 People 7 1.6 Process 8 1.7 Physical evidence 9 1.7.1 Parking 9 1.7.2 Buildings 9 1.7.3 Stores/decor/furnishings 10 2. Micro environment - competition 11 2.1 Tesco vs. Biedronka (Ladybird) 12 2.2 Tesco vs. Carrefour 12 2.3 Comparison of the top 3 retail chains in Poland 13 2.1 Current and potential threats to Tesco in Poland 16 3 Suggested…
Authority (FSA).’ (Reference 1). 2. The 2011 Tesco financial statements for Tesco stores indicate an increase in turnover for the year 2011 in comparison to the previous year 2010. The profit for the year 2011 shows a figure of £2,671m pounds in comparison to the previous year’s 2,336 million pound profit figure. That is a 14.34% increase in profit from the previous year. The 2011 financial report also shows that in comparison to 2010 figures Tesco stores spent a further £3,568m on sales costs. The…
Tesco & Gillette Shrinkage Reduction Project in Hungary - Zsolt Partos, Trading Director, Tesco Hungary - Bill Cody, Country Manager, Gillette Group Hungary Tesco Profile • Global retailer: UK, Central Europe and Asia. • Tesco Hungary: 21 hyperstores and 27 superstores. • Business growth through long term customer loyalty by meeting constantly changing customer needs. • Low levels of shelf out of stocks and customer friendly merchandising are key pillars of the Tesco strategy. • Business…
B.A.(Hons.) International Business Communication ! Independent Project ! Whether Store Brands can improve customer loyalty ! Tutor: Caroline Corney Student Number: 709109 Student Number: 709109 Declaration ! I hereby declare that that this independent project is substantially my own work and that all relevant attributions have been made” with name and signature. ! Signed______________________ Date______________ Ge Yongliang ! ! ! ! ! ! ! ! ! ! ! ! ! ! Student Number: 709109 Acknowledgement…
communication that Tesco use, through their employees and customers. This report sets out to show how Tesco send and receive information to and from their employees to promote products and take feedback to better their stores and business. Report requested by: Tesco Belfast area Manager Report Submission Date: 05/12/2012 TYPE OF INFORMATION SOURCE PURPOSE VERBAL Telephones Meetings Interviews PA System Voicemail Face-To-Face Tesco use telephones for…
of research including the following points: a) A definition of retailing. b) A description of the different types of retail stores with examples of each one. c) A explanation of the differences between an online and physical store. d) A description of what a ‘click and bricks’ store is. e) A description of the 3 emerging store types. f) A description of what a hybrid store is – with examples. g) A description of a not for profit and public place retailers with examples for each. h) A classification…
6 1.6.a Tesco with its Clubcard program is able to grab some basic information upon customers signing up for the card. This basic information would likely include: Name Address Email Age Gender Tesco can then use the Clubcard to track down more information such as: How often you shop at Tesco What times you shop at Tesco How much you spend on average What you purchase most frequently What store locations you shop at However, Tesco is gathering much more info from outside sources. “Tesco is quietly…