Tesco - Losing Ground in the UK
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Case Code: BSTR421 Case Length: 19 Pages Period: 2006-2012 Pub Date: 2013 Teaching Note: Not Available |
Price: Rs.500 Organization: Tesco Plc. Industry: Retail Countries: UK Themes: Business Strategy, Business Environment |
Abstract Case Intro 1 Case Intro 2 Excerpts
Background Note
Tesco was founded by Jack Cohen in 1919 as a single East End Grocery store in Well Street. By 1939, it had around 100 stores across the United Kingdom. In 1947, Tesco Stores (Holdings) Limited was floated on the Stock Exchange with a share price of 25 pence and the first supermarket was opened in 1956 in Maldon, Essex. The first Tesco superstore, with an area of 90,000 square feet, was opened in 1967. Tesco diversified into operating petrol pumps in 1974. By 1979, the company's turnover had reached £1 billion, while by 1982, sales had surpassed the £2 billion mark. In 1982 the company started expanding outside the UK and entered Ireland.
In 1985, Ian MacLaurin (Laurin) became the first CEO of Tesco from outside the Cohen family. Laurin realized the need for streamlining Tesco's operations. He closed down most of the smaller stores and was instrumental in starting several large stores of above 30,000 square feet in the suburbs.
In the 1990s, Tesco introduced several customer-centric products and services such as 'One in Front,' a loyalty card, grocery home shopping, and Tesco personal finance. At that time, it entered France and Scotland. In 1995, Tesco had become the largest retailer in the UK....
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