Tesco Information

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Since 1998, Tesco Stores has been the biggest trade network in England, Scotland and Wales. In Great Britain, where Tesco owns over 1.900 stores and department stores, an average commercial unit offers about 50 000 sales lines from food to CDs, clothes, books, garden furniture, and toys. Throughout Great Britain, Tesco runs various shops ranging from shops in the city centers to hypermarkets in the suburbs and outside cities. Recently, Tesco has run trade units in Ireland, Poland, the Czech Republic, Slovakia, Hungary, Thailand, Korea and Taiwan.

Business policy

The successful development of Tesco Stores is primarily based on a plain vision. We pride ourselves on selling high quality goods, improving the standard of services provided continuously, thus responding to customers' needs. As far as the goods layout is concerned, Tesco Stores takes into account actual customer needs, thus offering a wide range of high quality goods for reasonable prices. The offer structure reflects a new lifestyle, stressing health and environment. These very two spheres are considered to have the key position, both in relation to the customers and to the employees and partners. Not only adhering to strict quality standards and to using environment saving technologies, but establishing long-term contacts with suppliers is emphasized as well.

History

Tesco was founded by Jack Cohen, who served with the Royal Air Force during the First World War. After returning in 1919, 21 year old Jack invested 30 pounds of his reward for military service to buy surplus food stockpiles and he opened a little stall in East London. On the first day he had a four pound turnover and one pound profit. Little by little, his business started to boom and Jack expanded to other markets all over London. He also began wholesale trade.

The first line of Cohen brand goods placed on the market was Tesco tea. In 1924, the name which the company later took on as its corporate name emerged. The name Tesco contains the initials of the owner of the firm, Mr. T. E. Stockwell, who supplied the firm with tea and of the initials of Jack's surname - Cohen. Towards the end of the twenties, instead of stall trade Jack focused on window shop trade taking place on the main street. In 1929, the name Tesco first flared above a shop provided with a lock in North London (Burnt Oak, Edgware).

In 1932 Tesco Stores became a commandite company. Two years later, Jack bought a piece of land in North London (Angel Road, Edmonton) with the intent to construct the head office and the warehouse there. The construction plan had proposed and specified new ways of materials inventory control and the warehouse became the first modern building of this type in the country. At the beginning, the stock kept 50 branches going, and in 1939, the number doubled.

After the start of the Second World War, Jack launched (before the government did) food rationing to make sure everyone received an equal food supply. To ensure enough fresh vegetables for his trade he bought three acres of land with greenhouses and nine acres of fields in Cheshunt and Hertfordshire for growing cucumbers, tomatoes and fruit trees on. Nowadays, part of the English headquarters' administration buildings are situated there.

Since World War II, Tesco Stores corporation has been growing steadily. As far as Central Europe is concerned, the purchase of 13 department stores from Kmart corp. (CZ Rep. and Slovakia) in 1993 and opening of the first Tesco hypermarket in Budapest in the same year is proof beyond reasonable doubt.

Great Britain

In Great Britain, Tesco is the most expanded company selling food. Our key position on the British market enables us to further rise the development of a retail network and international sales. In 2001, we were awarded a Trade prize for our contribution to British citizens by RBS/Sunday Times. We run 1.982 stores in Great Britain, including new obtained network T&S Stores, employing more than 221.000 people. We offer our customers communication services, financial services and the Internet sale to houses for more that 750.000 registered customers. We also belong to the biggest independent seller of fuel.

Ireland

We entered local trading in 1997 and since then we have reached a key position on the local market. Nowadays, we keep 77 stores. This year we opened the first fuel station in Killarney and the first hypermarket is being built in Dublin.

Hungary

We are among the leading companies on the local market with 13% shares. This year, we opened five new stores and altogether we keep 53 stores.

Poland

This year we opened seven new hypermarkets in Poland and we gained 13 hypermarkets from German business network HIT. The total number of hypermarkets and supermarkets has reached number 66. About 50 % of food sale is centralized and Tesco brand goods are available at all stores.

Thailand

Thailand is among the leading countries at keeping Tesco shops in Asia. This year we opened nine hypermarkets and with a total number of 52 stores, we belong to the leading companies on the local market. The Tesco Lotus was awarded a Trade prize by Thai press. We serve here more than 8 million customers a month!

South Korea

Five of the top ten Tesco stores are situated in South Korea. It is not the only success apparent in this country, though. Our Homeplus store total sales exceeded 1.1 million pounds on the opening day and Tesco reached a world record-breaking profit. Last year we successfully opened seven new hypermarkets and we belong to nation-wide network, nowadays we