Tesco History and information

Tesco

Tesco PLC is a UK based supermarket chain. It is the largest British retailer, both by global sales and domestic market share, and the fourth largest retailer in the world behind Wal-Mart of the USA, Carrefour of France, and The Home Depot of the USA. Tesco PLC is listed on the LSE, with ticker symbol TSCO and has a Level 1 OTC American Depositary Receipt (ADR) Programme in the USA, with ticker TSCDY. In 2005 Tesco announces annual profits of £2 billion. In 2006 Tesco said it was on track to open a record number of foreign stores this year.

Tesco has a long term strategy for growth, based on four key parts: growth in the Core UK business, expand by growing internationally, be as strong in non-food as in food and to follow customers into new retailing services. Tesco had branched into numerous nations: Czech Republic 1996, Hungary 1994 Poland 1995, Rep. of Ireland 1997, Slovakia 1996 , Turkey 2003 , China 2004, Japan 2003 , Malaysia 2001 , South Korea 1999 , Taiwan 2000 , Thailand 1998

Tesco started life as a 1 man business in London's East End. Tesco was founded by Jack Cohen, son of a Polish Jewish tailor. He sold groceries in markets of the East End from 1919. The Tesco brand first appeared in 1924. The name derived after Jack Cohen bought a large shipment of tea of T.E. Stockwell , formerly Messrs Torring and Stockwell of Mincing Lane, he made new labels by using the first 3 letters of a supplier's name and the first 2 letters of his surname forming the word "TESCO". There is a wide mis-conception that the name is an abbreviation of the name of Jack Cohen's wife, Tessa Cohen, becoming TESCO, this is wrong as Jack was never married to a Tessa.

Measuring Tesco performance
Tesco have a management tool, "the Steering Wheel", divided into four quadrants Customer, Operations, People and Finance - which, in turn, are divided into several segments, each with a set of Key Performance Indicators (KPIs) which are based on demanding but achievable targets. Performance is reported quarterly to Tesco's Board, and a summary report is sent to the top 2,000 managers in the company to cascade to staff. The remuneration of senior management is shaped by the KPIs, with bonuses based on a sliding scale according to the level of achievement on the corporate Steering Wheel.

http://www.tesco.com/

Tesco Customer Service
PO Box 73
Baird Avenue
Dryburgh Industrial Estate
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The KPIs are monitored quarterly and are reviewed annually.

Our CR KPIs reflect::Customer priorities e.g. recycling, local sourcing, organics and Computers for Schools scheme Staff concerns e.g. training and charitable giving Government requirements e.g. refrigerant use and energy efficiency Business risks e.g. supply chain labour standards, energy and water usage.

Tesco's UK stores are divided into five formats, differentiated by size and the range of products sold.

Tesco operates ISP, mobile phone, home phone and VoIP businesses.

Tesco Extra are larger, out of town hypermarkets stock all of Tesco's product ranges. The first Extra opened in 97 thanks to the Tesco Hypermarkets that opened in 1976 with a flagship store in Irlam
Tesco stores are standard large supermarkets, stocking groceries plus much smaller range of non food goods than Extra. They are referred to as "superstores" for convenience, but this word does not appear on the shops.
Tesco Metro stores are sized between normal Tesco stores and Tesco Express stores.
Tesco Express stores are neighbourhood convenience shops, stocking mainly food with an emphasis on higher-margin products (due to lack of economies of scale) alongside everyday essentials.

Tesco Homeplus : These stores offer all of Tesco's ranges except food in warehouse-style units in retail parks.
One Stop The only category which does not include the word Tesco in its name. T
In May 2005 Tesco announced a trial non-food only format , and the first store opened in October 2005:

Tesco has operated on the internet in the UK since 94 and was the first retailer in the world to offer a home shopping service in 96. Tesco also has Internet operations in the Republic of Ireland and S. Korea. Grocery sales are available within delivery range of selected stores, goods being hand-picked within each store. In contrast to the warehouse model followed by Waitrose's home delivery service partner Ocado, this model, which is now also applied by competitor Sainsbury's, allowed rapid expansion with limited investment, but has been criticised by some customers for a high level of substitutions arising from variable stock levels in stores.

In the late 1990s, the typeface of the logo was changed to the current one shown on the top of the page with stripe reflections underneath the typefaces as Tesco used them on their carrier bags.

Victor Value, England, 1968 (sold in 86)
William Low, Scotland, 1994
Quinnsworth, Stewarts and Crazy Prices stores, Republic of Ireland and Northern Ireland from Associated British Foods, 1997
13 HIT hypermarkets in Poland, 2002
T & S Stores, owner of the UK convenience store chains One Stop and Day & Nite, 2002
C Two-Network in Japan, 2003[6]
A majority stake in Turkish supermarket chain Kipa in 2003.
Lotus in Thailand
Hillards, North of England 1984
21 remaining Safeway/BP stores in late 2005, after Morrisons (the new owners of Safeway plc, the British supermarket chain) dissolved the Safeway/BP partnership

Fairtrade
Tesco say they strongly support Fairtrade, Tesco say that their customers buy 1 in 3 Fairtrade products sold in UK supermarkets

Tesco supports the UK Government's commitments to the Kyoto protocol on Climate Change.

Animal testing

Tesco say they don't support testing on animals for cosmetic or household purposes and therefore do not carry such tests on our own brand products or ingredients. Tesco contributes Â£10,000 a year to the Fund for the Replacement of Animals in Medical Experimentation (FRAME), which seeks to end animal testing.

They are working with suppliers to increase availability of British organic food as part of our commitment to organics. This builds out a long history of working to reduce the use of artifical chemicals and improving animal welfare.

Their policy on Genetically Modified (GM) foods is driven by views of the customers. They say that they continue to tell them that they are not yet convinced of the benefits of GM. All branded products containing GM are labelled as such.

In the lobby of Tesco's head office, you can't help noticing a row of clocks telling the time in 12 different nations. Unlike for some businesses, this display of internationalism is not an empty gesture. The UK's largest retailer now operates more than 800 stores abroad, stacking up sales of more than £10bn in 2005-6. Tesco - which made a £2.25bn underlying profit last year - sees international expansion as a main engine of its long-term growth.
Supermarket giant Tesco has said all its carrier bags will be degradable from September.
The bags break down in as little as 60 days into materials such as carbon dioxide and water with no harmful residue, unlike plastic bags.

US billionaire investor Warren Buffett has invested £174m ($329m) in the UK's leading supermarket, Tesco. Mr Buffett's Berkshire Hathaway company purchased 57.6 million Tesco shares in March, according to official records. Mr Buffett, the "sage of Omaha", has become the second-richest man in America through long-term investments. He recently indicated he wanted to diversify his investment portfolio by buying more assets outside the US.

Politics

In 2006 a report into a secret May 2003 planning agreement binding a district council to supermarket giant Tesco was planned by members.
The deal said only Tesco can build a supermarket on council owned land. North Norfolk District Council's cabinet. The report was expected to conclude that the council's executive committee gave authority for the signing of the deal.

Dame Shirley Porter, who has appealed successfully against paying a multi-million pound surcharge in the homes for votes scandal, was one of Margaret Thatcher's best known standard bearers throughout the 1980s. Dame Shirley was born in 1930 in Clapton East London, the daughter of , Jack Cohen, who went on to build the Tesco supermarket chain on the "pile it high, sell it cheap" philosophy. Now she is a Tesco heiress and worth a reputed £20m. The House of Lords condemned Dame Shirley Porter for "political corruption" and ordered her to pay a surcharge which, after interest, now stands at £40 million. The former Leader of Westminster City Council told the courts she could not possibly afford to pay because she had assets world-wide of only £300,000.

In 2000 The Tories staged a national protest day to highlight the rise in petrol prices under Labour. Supermarkets Morrisons and Sainsbury's launched a petrol price war in a bid to beat the boycott by slashing an average of 2p a litre off petrol prices. Tesco joined its rivals in bringing the cost of a litre low.

In 2001 "Poor" education standards prompted supermarket giant Tesco to spend £1m on improving recruits' literacy and numeracy skills.

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