Tesco latest news
Tesco is one of the biggest names in supermarket retail in the UK and across the world.
The supermarket chain accounts for every £1 spent out of £10 within the UK, and this has previously been as high as £1 of every £7. In 2012, Tesco had a 30.2% market share within the UK supermarket and groceries industry. In April 2022 this was 27%*.
The business was started in 1919 by Jack Cohen, selling surplus groceries from a stall in the East End of London. In 1929, the first Tesco store opened in Edgware, North London. The Tesco name first appeared in 1924, after Cohen purchased a shipment of tea from T. E. Stockwell and combined those three initials with the first two letters of his surname.
Tesco has grown substantially since this point and has added to through various acquisitions. It completed a merger with Booker Group, the UK’s leading food wholesaler, which helped to create substantial synergies and access to the ‘out-of-home’ food market.
The Tesco Group also includes Tesco Bank, which provides banking, insurance and money services; Tesco Mobile, the UK’s largest mobile virtual network operator; and dunnhumby, a wholly-owned data science subsidiary. In addition, it consists of hundreds of One Stop stores, F&F clothing and Makro wholesale.
Tesco Products and Services:
- Meat, Fish, Poultry, Deli
- Fresh Produce and Flowers
- Grocery and Household
- Frozen Food
- Bakeries, on the move food, prepared meals
- Home and Beauty
- Tesco Bank
- Tesco Mobile
*According to figures from Kantar.
The general public holds a 17% stake in Tesco; this can allow for swaying policy in the public’s favour with a collective impact on company policies. The price for a share is currently around 279.25p.
Tesco has around 4,000 stores of all different sizes in the UK and Ireland and this figure has continually grown in the past few years. There are around another 3,000 outside Britain, in 11 countries, including France, Hungary and Japan. Most stores are the smaller Tesco Express size (about 50%) with One Stops and larger Tesco Superstores accounting for most of the remainder.
All Tesco products and services can be viewed and ordered to be delivered straight to the home. It offers 1.5 million online weekly delivery slots, with priority access going to 850,000 vulnerable customers. It also offers click and collect.
The total average number of Tesco employees is 367,321. This equates to 336,392 in UK and Ireland, 27,273 in Central Europe and a further 3,656 working for Tesco Bank. The average number of full-time equivalents is around 210768, 28955 and 3305 respectively. In the Tesco 2021 Annual Report it states that 47% of the employees are male and 53% are female.
The Tesco head office is located in Welwyn Garden City, Hertfordshire.
Falcon Way, Shire Park, Welwyn Garden City, Hertfordshire, AL7 1TW
Year to 29 February 2020
Pre-Tax Profit: £1.315bn
Year to 15 February 2019
Pre-Tax Profit: £1,673m
Tesco can be contacted via phone or email to its Hertfordshire head office:
- Telephone: 0345 301 4455
- Email: [email protected]
Email this article to a friend
You need to be logged in to use this feature.
Please log in here