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About Tesco

Tesco is a grocery and merchandise retailer based in Hertfordshire, England. Tesco has the second highest revenue of any retailer globally. Tesco stores can be found in 12 countries throughout Europe and Asia. Tesco was founded by Jack Cohen in 1919. At first, Cohen simply owned a number of market stalls. The first real Tesco store opened in 1929. Only ten years later, 100 Tesco stores littered the country. Tesco reached its zenith in the 1990s with the launch of the Tesco Value line in 1993 and the creation of Tesco Clubcard in 1995. Tesco was the first supermarket to create a loyalty scheme that was based on what customers bought. This changed the whole business of supermarkets and created the loyalty card craze of the modern day.

Tesco began diversifying its retail stock in the 1970s. It started selling fuel (called petrol in the UK) in 1974. Tesco launched a mobile phone service in 2003. Tesco uses the O2 network but sells its own mobile devices and sells home phone and broadband services. Tesco has also purchased a garden store chain and restaurant/cafe chain. They invested in a coffee shop chain called Harris + Hoole in 2012. Tesco also owns its own bank service, formed in 1997.

Tesco has experienced a variety of lawsuits for price-fixing, misleading customers, aggressive litigation, and occupying a large amount of market space. Tesco has also been criticized for its monopolization of land in which to build their stores. Many of Tesco’s land remains undeveloped.