The first Tesco store was opened in 1929 in Burnt Oak, Edgware, Middlesex. Tescofloated on the London Stock Exchange in 1947 as Tesco Stores (Holdings) Limited.The first self service store opened in St Albans in 1947, and the first supermarket inMaldon in 1956
"We have continued to make strong progress with all four parts of our strategy - astrong UK core business, non-food, retailing services and international - by keepingour focus on trying to improve what we do for customers:
making their shopping trip as easy as possible
constantly seeking to reduce our prices to help them spend less
offering the convenience of either large or small stores
Management and strategy changes
The founder, Jack , was an enthusiastic advocate of trading stamps as an inducementfor shoppers to patronize his stores: he signed up to Green Shield Stamps in 1963, and became one of the company’s largest clients.In 1973 Jack resigned and was replaced as Chairman by his son-in-law Leslie Porter.Porter and managing director Ian MacLaurin abandoned the "pile it high sell it cheap" philosophy of Cohen which had left the company "stagnating" and with a "badimage". In 1977 Tesco launched "Operation Checkout" which saw it abandon GreenShield stamps in favour of cutting prices and centralized buying for all of its stores.The result was a rise in market share of 4% in two months.
1.An "inclusive offer". This phrase is used by Tesco to describe its aspiration toappeal to upper, medium and low income customers in the same stores. According to3