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Tesco plc, trading as Tesco, is a British multinational groceries and general merchandise retailer with headquarters in Welwyn Garden City, Hertfordshire, England, United Kingdom. It is the third-largest retailer in the world measured by gross revenues and ninth-largest retailer in the world measured by revenues. It has shops in seven countries across Asia and Europe, and is the market leader of groceries in the UK , Ireland, Hungary and Thailand.Tesco was founded in 1919 by Jack Cohen as a group of market stalls. The Tesco name first appeared in 1924, after Cohen purchased a shipment of tea from T. E. Stockwell and combined those initials with the first two letters of his surname, and the first Tesco shop opened in 1931 in Burnt Oak, Barnet. His business expanded rapidly, and by 1939 he had over 100 Tesco shops across the country.Originally a UK grocer, Tesco has diversified geographically since the early 1990s, and into areas such as the retailing of books, clothing, electronics, furniture, toys, petrol, software, financial services, telecoms, and internet services. In the 1990s Tesco repositioned itself from being a down-market high-volume low-cost retailer, to one designed to attract a range of social groups by offering products ranging from low-cost Tesco Value items to its Tesco Finest range. This broadening of its appeal was successful and saw the chain grow from 500 shops in the mid-1990s to 2,500 shops fifteen years later.Tesco is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. It had a market capitalization of approximately £18.1 billion as of 22 April 2015, the 28th-largest of any company with a primary listing on the London Stock Exchange.
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