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Company profile

Type	Public Limited Company
Traded as	LSE:TESCO
Industry	Retailing
Founded	1920 (East London)
Founder	Jack Cohen
Headquarter	Cheshunt, Hertfordshire, U.K.
Number of locations	5380 stores (as at Feb. 2010)
Key people	David Reid (chairman) Philip Clarke (CEO)
Products	Groceries, consumer goods, financial services, telecoms etc
Revenue	£60.93 billion (2010/11)
Operating Income	£3.81 billion (2010/11)
Net Income	£2.67 billion (2010/11)
Employees	472,000 (2010)
Website	Tesco.com

Jack Cohen founded Tesco in 1920 when he began to sell surplus groceries from a stall at Well Street Market, Hackney, in the East End of London.
The first Tesco store was opened in 1929 in Burnt Oak, Edgware, Middlesex.
The first self-service store opened in St Albans in 1956 (which remained operational until 2010, with a period as a Tesco Metro), and the first supermarket in Maldon in 1956.

In 1994, the company took over the supermarket chain William Low, successfully fighting off Sainsbury's for control of the Dundee-based firm, which operated 57 stores.
Tesco introduced a loyalty card, branded 'Clubcard', in 1995 and later an Internet shopping service.
In July 2001 Tesco became involved in internet grocery retailing in the USA when it obtained a 35% stake in Grocery Works.

In October 2003 the company launched a UK telecoms division, comprising mobile and home phone services, to complement its existing Internet service provider business and in June 2003 Tesco purchased the C Two- Network in Japan.
In 2007, Tesco took part in a joint venture with O2 to form the Tesco Mobile mobile virtual network operator.

Jack Cohen Founder of TESCO

Philip Clarke CEO

David Reid

Chairman

Terry Leahy

Former CEO

MISSION STATEMENT OF TESCO

Creating value for customers, to earn their lifetime loyalty.

Our vision is for Tesco to be most highly valued by the customers we serve, the communities in which we operate, our loyal and committed staff and our shareholders; to be a growth company; a modern and innovative company and winning locally, applying our skills globally.

Beginning in 1997 when Terry Leahy took over as CEO, Tesco began marketing itself using the phrase "The Tesco Way" to describe the company's core purposes, values, principles, and goals.
Tesco expanded domestically and internationally under Leahy's leadership, implying a shift by the company to focus on people, both customers and employees.
A core part of the Tesco expansion strategy has been its innovative use of technology.

Tesco operates a grocery home shopping service, as well as providing consumer goods, telecommunications and financial services online.
Tesco has operated on the internet since 1994 and was the first retailer in the world to offer a robust home shopping service in 1996.
Tesco offers an internet-based DVD rental service, which is operated by LOVE-FiLM and a music download service.