Tesco, grocery leader across Asia, North America and Europe
Author C. Sanders. Published on May 21, 2011 - 3:27 am (1756 views — 191 words
Tesco PLC is a worldwide grocery/general merchandise retailer with their headquarters in Cheshunt, United Kingdom. Tesco is the third-largest retailer in the world measured by revenues (following Wal-Mart and Carrefour) and the second-largest when being measured by profits (after Wal-Mart).
Tesco is located in 14 countries across Asia, North America, and Europe. It is the leader in the grocery market in the UK, where it has a market share of 30%. It is also the leader in Malaysia, the Republic of Ireland, and last but not least, Thailand.
Jack Cohen, the companys founder (1919) opened the first store in 1929 in Burnt Oak, Edgware, Middlesex. The name Tesco first appeared after Cohen purchased a load of tea from T.E. Stockwell and combined those initials with the first two letters of his surname.
Tesco, though much appreciated by many small towns for bringing all shopping into one location, is responsible for the fall of those particular towns. Employing half of the town has led to small businesses shutting down left and right, because they simply cant keep up with the corporation. This is particularly the case in Hucknall, outside of Nottingham, England.