Last Updated:

2024-05-01 01:11:04

Tesco

British multinational retailer headquartered in England

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British multinational retailer headquartered in England

Tesco plc is a global retailer with shops in several countries. It is the market leader of groceries in the UK. Tesco has diversified into various areas such as books, clothing, electronics, and financial services. It is listed on the London Stock Exchange and is part of the FTSE 100 Index.

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1919

Tesco founded

British grocery chain Tesco was founded in 1919. It is the country's biggest supermarket, Europe's largest private employer, and the world's second-largest retailer after Walmart.

1924

Introduction of the name 'Tesco'

In 1924, the name 'Tesco' was born when Jack Cohen introduced the first own-brand product, Tesco Tea, which was named after the initials of TE Stockwell and Jack Cohen.

1929

Opening of the first Tesco store

In 1929, the first Tesco store was opened, marking a significant milestone in the history of the company.

1930

Opening of Tesco's First Official Store

Tesco opened its first official store in 1930 in Barnett’s Burnt Oak under the leadership of founder Jack Cohen. This marked a significant milestone in the company's history.

1931-09

Opening of the first Tesco shop

The first Tesco shop was opened by Jack Cohen in September 1931 at 54 Watling Avenue, Burnt Oak, Edgware, Middlesex. This marked the beginning of Tesco's retail operations.

1934

Opening of Food Warehouse in North London by Cohen

In 1934, Cohen established a food warehouse in North London to supply his consumer stores.

1937

Opening of the First Modern Food Warehouse

Jack Cohen purchased a plot of land at Angel Road, Edmonton, north London to construct a new headquarters and warehouse, which became the first modern food warehouse in the country. Innovative stock control methods were implemented, resulting in increased savings for customers.

1939

Rationing during World War II

During World War II, rationing was implemented in the United Kingdom to manage scarce resources. This had a significant impact on the availability and distribution of goods, including food items like those stocked in Tesco stores.

1946

First Self-Service

In 1946, Jack Cohen introduced the concept of self-service to Britain, revolutionizing the shopping experience.

1947

Tesco Listing on the London Stock Exchange

Tesco was listed on the London Stock Exchange in 1947.

1948

Tesco Stores (Holdings) Enters Stock Exchange

In 1948, Tesco Stores (Holdings) was floated on the stock exchange with a share price of 25 pence, marking a significant milestone in the company's history.

1956

Opening of the first self-service shop and supermarket

In 1956, Tesco opened its first self-service shop in St Albans and the first supermarket in Maldon, marking significant milestones in the company's retail strategy.

1957

Acquisition of Williamson's shops

In 1957, Tesco acquired 70 Williamson's shops as part of its expansion strategy.

1959

Acquisition of Harrow Stores outlets

In 1959, Tesco purchased 200 Harrow Stores outlets to further expand its retail presence.

1960

Acquisition of Irwins shops

In 1960, Tesco acquired 212 Irwins shops as part of its growth through acquisitions.

1964

Acquisition of Charles Phillips shops

In 1964, Tesco purchased 97 Charles Phillips shops to strengthen its retail network.

1968

Acquisition of Victor Value chain

In 1968, Tesco acquired the Victor Value chain, which was later sold to Bejam in 1986.

1973

Acquisition of Victor Value chain

In 1973, Tesco acquired the Victor Value chain, marking a significant expansion in their retail operations.

1974

Tesco starts selling petrol

In 1974, Tesco began selling petrol at its Superstore and Extra locations. Over the years, Tesco expanded its fuel offerings to include biofuels and formed partnerships with companies like Greenergy for fuel development.

1977

Introduction of Petrol Stations

In 1977, Tesco entered the fuel market by introducing petrol stations at major sites, offering competitive prices to UK motorists.

1979

Death of Tesco founder Jack Cohen

Jack Cohen, the founder of Tesco, passed away in 1979.

1982

Tesco's 'Checkout 82' Advert

The notable 1982 advert 'Checkout 82' featured a till with receipts displaying prices, accompanied by synthpop music and the catchy slogan 'Check it out, check it out'.

1984-05

First recorded online shopping transaction by Mrs. Jane Snowball

In May 1984, Mrs. Jane Snowball made the world's first recorded online shopping transaction from her home in Gateshead, England using Tesco's 'Videotex' technology. This marked the beginning of Tesco's online shopping service.

1985

Aggressive expansion and technological advancements by Tesco

In 1985, Tesco began an aggressive expansion program of its stores and warehouses, along with incorporating more technology into its operations.

1992

Tesco's Computers for Schools Scheme

Starting in 1992, Tesco initiated a 'computers for schools scheme' where customers could donate vouchers to schools and hospitals in exchange for computers. By 2004, £92 million worth of equipment had been donated through this scheme.

1993-12-01

Formation of Tesco Corporation

Tesco Corporation was formed on December 1, 1993, through the amalgamation of Shelter Oil and Gas Ltd., Coexco Petroleum Inc., Forewest Industries Ltd., and Tesco Corporation.

1994-11-23

Tesco's Launch in Hungary

Tesco launched in Hungary on November 23, 1994, after acquiring a local supermarket group. They opened their first hypermarket in Budapest in 1996 and currently operate more than 200 stores in Hungary.

1995

Launch of Tesco's Internet shopping service

In 1995, Tesco introduced its Internet shopping service, which has since remained active and profitable for the company, revolutionizing the way customers shop for groceries.

1996

Tesco's Entry into Czech Republic

Tesco entered the Czech Republic in 1996 by acquiring Kmart's operations and converting them into Tesco stores. They currently have over 300 stores in the country.

1997

Tesco's expansion into Ireland

In 1997, Tesco expanded its operations into Ireland, marking a significant milestone in the company's international growth strategy.

1998

Tesco's entry into Thailand and partnership with Charoen Pokphand

In 1998, Tesco entered Thailand and operated through a joint venture with Charoen Pokphand, named Tesco Lotus. The partnership was dissolved in 2003 when Charoen Pokphand sold its shares to Tesco.

1999

Launch of Tesco's South Korean operations as Homeplus

In 1999, Tesco launched its South Korean operations under the name Homeplus and partnered with Samsung. Tesco held 94% of the shares in the venture, becoming the second largest retailer in South Korea.

2000

Tesco's path towards global domination

In the early 2000s, Tesco was making significant strides towards becoming a dominant global player in the retail industry.

2001

Expansion of Tesco's presence in Britain through acquisitions

Since 2001, Tesco has significantly expanded its footprint across Britain by acquiring smaller companies deemed valuable, solidifying its position as a leading retail giant in the region.

2002-05

Opening of Tesco's First Store in Malaysia

In May 2002, Tesco opened its first hypermarket in Puchong, Selangor, marking its entry into the Malaysian market. Currently, Tesco Malaysia operates 49 stores and has a partnership with local conglomerate Sime Darby Berhad.

2003-06

Acquisition of C Two-Network in Japan

In June 2003, Tesco purchased the C Two-Network in Japan.

2003-10

Launch of UK Telecoms Division

In October 2003, Tesco launched a UK telecoms division, comprising mobile and home phone services, to complement its existing Internet service provider business.

2005

Tesco's Sales Per Square Foot at Lowest Levels

In 2005, Tesco's sales per square foot reached their lowest levels, and the situation worsened after accounting for inflation.

2006

Tesco's Corporate Social Responsibility Commitment

In 2006, Tesco pledged to contribute 1.87% of its pre-tax profits to charities and local community organizations, showcasing a strong commitment to corporate social responsibility.

2007-05

Tesco's Corporate Tax Structure in Switzerland

In May 2007, it was reported that Tesco moved its online operations' head office to Switzerland to avoid charging value-added tax (VAT) on certain products. This move followed the closure of its operation in Jersey.

2007-11

Tesco enters the United States grocery market with Fresh & Easy chain

In November 2007, Tesco entered the United States grocery market by opening its Fresh & Easy chain of convenience stores on the West Coast, including Arizona, California, and Nevada.

2008-07-28

Tesco buys out Royal Bank of Scotland's stake in Tesco Bank

Tesco announced the acquisition of Royal Bank of Scotland's 50% stake in Tesco Bank for £950 million, fully owning the financial services arm. This move marked a significant step towards diversifying the Tesco brand and expanding its presence in the financial sector.

2009

Tesco's 'Change for Good' Advertising Controversy

In 2009, Tesco faced criticism for using the trademarked phrase 'Change for Good' by Unicef in its advertising, leading to concerns about capitalizing on charity campaigns for commercial purposes.

2010-02

Tesco's Record Profits

Despite being in a recession, Tesco achieved record profits for a British retailer in the year to February 2010, with underlying pre-tax profits increasing by 10.1% to £3.4 billion.

2011-04

Violent Clash over Tesco Express in Bristol

In April 2011, opposition to a Tesco Express shop in Bristol escalated into a violent clash between opponents and police, resulting in damage to the shopfront and seizure of petrol bombs. Critics argued the shop would harm small businesses and the area's character.

2011-06

Tesco's Collaboration with 2degrees Network

In June 2011, Tesco partnered with 2degrees Network to establish an online hub, aiming to reduce its supply chain carbon footprint by 30% by 2020.

2011-09

Greenpeace Report on Tesco Supermarkets in China

A Greenpeace report in September 2011 revealed that Tesco stores in China were selling vegetables containing pesticides above legal limits, raising concerns about food safety and compliance.

2012

Tesco investment in Harris + Hoole

In 2012, Tesco invested in a new coffee shop chain called Harris + Hoole. The chain was named after characters in Samuel Pepys' diary. Tesco later took full ownership of the business.

2013-01

Horse Meat Scandal in Tesco

In January 2013, British media reported the discovery of horse meat in meat products sold by Tesco, including burgers. Prime Minister David Cameron condemned the incident, revealing that some products contained as much as 60% horse meat instead of beef.

2013-03

Tesco purchase of Giraffe

In March 2013, Tesco acquired the restaurant chain Giraffe as part of its strategy to utilize excess space in its shops. The chain was later sold to Boparan Holdings.

2013-04

Launch of Grocery Home Shopping Service by Tesco Malaysia

In April 2013, Tesco Malaysia introduced the Grocery Home Shopping Service, allowing customers to order groceries online with no minimum purchase requirement. This service aimed to provide convenience to consumers in Malaysia.

2013-09

Tesco sells Fresh & Easy stores in the US

In September 2013, Tesco agreed to sell over 150 Fresh & Easy stores that were established just seven years prior in the southern and western regions of the United States. The grocery chain described this action as 'an orderly and efficient exit from the US market.'

2014-08-16

Protest Against Sale of Israeli Goods at Tesco

On August 16, 2014, a protester was arrested at a Tesco shop in Birmingham during a demonstration against the sale of goods from Israeli settlements. Protests often coincide with Israeli military actions in the region.

2014-10-23

Tesco CEO Dave Lewis Arrives for Interim Results Announcement

On October 23, 2014, Dave Lewis, the new CEO of Tesco, attended the company's interim results announcement in London. This event marked an important moment in Lewis's tenure as CEO.

2015-03-15

Closure of Tesco Homeplus shops

On March 15, 2015, Tesco closed six Homeplus shops, and the remaining six were shut down on June 27, 2015. This decision was part of Tesco's strategy to focus more on groceries.

2016-06-17

Sale of Dobbies by Tesco

On 17 June 2016, Tesco sold Dobbies to a group of investors for £217 million. The company was acquired by Midlothian Capital Partners and Hattington Capital.

2017-04

Tesco sells in-shop opticians' business to Vision Express

In April 2017, Tesco confirmed the sale of its in-shop opticians' business to Vision Express.

2017-06

Tesco announces major cost-cutting initiative

In June 2017, Tesco announced a cost-cutting initiative that would lead to a reduction of over 1,200 workers, including the closure of a call centre in Cardiff and significant job cuts in Welwyn Garden City and Hatfield.

2017-12

Acquisition by Nabors Industries

In December 2017, Tesco Corporation was acquired by Nabors Industries.

2018-03

Tesco Acquisition of Booker Group

Tesco completed the acquisition of the food wholesaler Booker in March 2018. Booker owns several brands like Budgens and Londis, operating under franchises.

2019-03-19

Why Tesco Failed In The United States

A CNBC video archived on Ghostarchive and the Wayback Machine discusses the reasons behind Tesco's failure in the United States.

2020-11-21

Allegation of Xenophobia at Tesco Store

On November 21, 2020, a member of the Romanian diaspora in the UK reported a warning for shoplifters written in Romanian at a Tesco store. The Romanian Ministry of Foreign Affairs expressed disagreement with the discriminatory message.

2021-05

Piglet Thumping at Tesco Supplier Farm

In May 2021, undercover footage showed piglets being hammered to death or swung against a concrete floor at a Tesco supplier farm. This practice, known as piglet thumping, is common on UK farms.

2021-06

Protests at Tesco Headquarters due to Amazon Rainforest Deforestation

In June 2021, protests took place outside Tesco Headquarters in Welwyn Garden City because of Tesco's involvement in deforestation and forest fires in Brazil. Tesco sources soy from Brazil for livestock feed, leading to environmental concerns.

2021-07

Chickens Left to Die of Thirst at Tesco Supplier

In July 2021, The Independent reported that chickens were being left to die of thirst in overcrowded sheds by a Tesco supplier. Some birds resorted to cannibalism, and many suffered ammonia burns.

2022-01

Closure of Jack's stores by Tesco

In January 2022, Tesco announced the closure of its Jack's stores, with some being shut down and others converted to Tesco Superstores. Jack's was launched in 2018.

2023-03-19

Tesco's Market Share

According to Kantar Worldpanel, Tesco's share of the UK groceries market in the 12 weeks to 19 March 2023 was 26.9%, showing a slight decrease from the previous year.

2024

Appointment of Data Protection Officer (DPO) at Tesco Business Solutions

In 2024, Tesco Business Solutions appointed a Data Protection Officer (DPO) to oversee data protection and privacy matters within the organization.

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