Tesco plc, trading as Tesco, is a British multinational grocery store as well as general goods store headquartered in Welwyn Yard City, England. It is the third-largest store worldwide measured by gross incomes and also the ninth-largest worldwide measured by incomes. It has stores in 5 nations throughout Europe and is the market leader of groceries in the UK (where it has a market share of around 28.4%).
Tesco was founded in 1919 by Jack Cohen en masse of market stalls in Hackney, London. The Tesco name first showed up in 1924, after Cohen acquired delivery of tea from T. E. Stockwell and also incorporated those three initials with the first two letters of his last name, as well as the first Tesco store opened up in 1931 in Burnt Oak, Barnet. His business expanded quickly, and by 1939 he had more than 100 Tesco stores across the country.
Tesco has actually expanded around the world because of the early 1990s, with procedures in 11 other nations in the world. The business took out of the United States in 2013, but as of 2018 remains to see growth elsewhere. Since the 1960s, Tesco has expanded right into areas such as the selling of publications, clothes, electronic devices, furnishings, playthings, gasoline, software program, financial services, telecommunications, and also net solutions. In the 1990s Tesco rearranged itself from being a downmarket high-volume inexpensive retailer, trying to attract a range of social teams with its low-priced "Tesco Worth" array (introduced 1993) as well as costs "Tesco Finest" range.
Tesco is provided on the London Stock Exchange and also is a constituent of the FTSE 100 Index. It had a market capitalization of approximately ₤ 18.1 billion as of 22 April 2015, the 28th-largest of any kind of firm with a primary listing on the London Stock Market.