Tesco was founded in 1924 by Sir
Jack Cohen and had earlier roots from selling groceries in London's
East End markets. The first store to be opened was in 1929 in Burnt
Oak, Edgware. In 1947 Tesco Stores (Holdings) Ltd was floated on
the Stock Exchange, with a share price of 75p. The first Tesco self-service
store was opened in St Albans in 1948. Tesco opened its first supermarket
in 1956 in Malden.
In the 1960's, Tesco started to sell fresh food, clothing and household
goods in addition to groceries and opened stores in high streets
of towns across England. In the 60's Tesco's started to grow by
acquisition of other stores. In the mid 1970's the company started
to sell petrol through petrol stations.
In the 1990s, Tesco started to expand its operations outside the
UK into Eastern Europe. In 1992 Tesco opened its city center stores
under the branding of Tesco Metro. In 1995 Tesco introduced the
loyalty card and by the end of the 90's diversified further into
In the year 2000, Tesco is Britain's leading food retailer with
845 stores. It prides itself on quality, customer service and a
customer-friendly environment. Let us have your experiences by leaving
a comment on this site.
Tesco's Group sales for 2000 financial year were £20.4Bn (up 9%)
producing an operating profit
of £1M (up 9%).