For Tesco, history began when Jack Cohen returned from the First World War and invested £30 on a surplus food stall in London's East End.
Cohen consolidated his initial small-scale success by joining forces with T.E. Stockwell, and the name Tesco was born. The first shop with "Tesco" emblazoned above the window was opened in 1929.
By 1939 Tesco had a hundred stores in operation, backed by creative innovations in warehousing and stock control. At the start of World War II, Tesco introduced food rationing before the government. This caring capitalism may go some way to explain the affection that working class people have maintained for the company. It shows that business is most effective when ethics and efficiency are combined.
- Tesco history since the second world war has been one of continuous expansion and success both in the UK and, more recently, in the new EU countries, including Slovakia, Czech Republic, and Hungary (Budapest).
Tesco is now Britain's largest food retailer, employing over 240,000 people worldwide and has net yearly profits of over £1 billion. Its website is one of the most popular in the UK, with over one million registered users.