Tesco plc is a British international grocery and general merchandising retail chain founded by Jack Cohen in 1919. The brand first appeared after Cohen bought a shipment of tea from T.E. Stockwell and he used those initials and added the first two letters of his own surname. The first Tesco store was opened in 1929 in Burnt Oak, Edgware, Middlesex. During the 1950s and the 1960s Tesco grew organically, and also through acquisitions, until it owned more than 800 stores. Originally specializing in food and drink, it has diversified into areas such as clothing, electronics, financial services, telecoms, home, health, car and dental insurance, retailing and renting DVDs,CDs, music downloads, Internet services and software. It is the largest British retailer by both global sales and domestic market share, with profits exceeding £3 billion, and the third largest global retailer based on revenue, after Wal-Mart and Carrefour and second largest in profit behind Wal-Mart.
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TESCO: A CASE STUDY IN SUPERMARKET EXCELLENCE
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Filed under Business Strategy, Industry Specific Cases, Retail Sector