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Tesco plc is a United Kingdom-based international supermarket chain. It is the largest British retailer, both by global sales and by domestic market share, and the fourth largest retailer in the world behind Wal-Mart of the United States, Carrefour of France, and The Home Depot of the United States.

Originally specialising in food, it has moved into areas such as clothes, consumer electronics, consumer financial services, selling and renting DVDs,[1] compact discs and music downloads, internet service and consumer telecoms.

Facts and figures

Tesco's revenue for the 52 weeks to 25 February 2006 was £38. Simple Travel Insurance. 259 billion. In 2006 it adjusted the accounting date for its non-UK and Ireland operations, and including 60 weeks of non-UK and Ireland operations revenue was £39. 454 billion. Group profit before tax was £2. 210 billion for the 52 week period and £2. RAC Insurance - Travel insurance. 235 billion including 60 weeks of non-UK and Ireland turnover.

According to TNS Superpanel Tesco's share of the UK grocery market in the 12 weeks to 18 June 2006 was 31. 4%. Across all categories, over £1 in every £8 of UK retail sales is spent at Tesco. Tesco also operates overseas, and non-UK revenue for the year to 25 February 2006 was 24% of total revenue. Worldwide Travel Insurance Services.

History

Formation

Tesco started as a one-man business in London's East End. Tesco was founded by Jack Cohen, son of a Polish Jewish tailor. He sold groceries in the 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 from T. Welcome to Outbacker Insurance. E.