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Finance & Accounting
Pages 8 (2008 words)
Name: Course: Instructor: Date: Investment Report: Tesco Plc The Company The foundations of Tesco can be traced back to a market stall from which its former owner Jack Cohen sold groceries in the East End of London in 1919. The company has grown to become an international company operating in 14 countries with over 500,000 employees serving millions of people on a daily basis (Tesco 2013)…
Tesco is currently the world’s third largest retailer in the world measured by revenue and the second largest when measured by profits. The company is undoubtedly the largest in the retail industry in the UK, where it controls approximately 30% of the market. This places Tesco substantially ahead of ASDA its closest rival which is operated by Wal-Mart a U.S owned operation. However, BBC (2012) indicates that Tesco’s market share fell below 30% to 29.9% for the first time in seven years for the 12 week period to January 22, 2012. The company’s major competitors include Sainsbury which was number one until 1995, ASDA, Safeway and Morrison’s. Tesco’s size resulted from a series of acquisitions throughout the UK. The company is now an international group with operations in 14 countries – located in Asia, Europe, and the U.S. According to Tesco (2013) Tesco’s venture into the international arena started in 1995 when the company invested in Hungary. In 1998 the company entered Thailand under the Tesco Lotus brand and in 1999 though a partnership with Samsung made its entry into Korea where it now has 450 stores. ...
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