Editing Tesco (section)

==Corporate affairs==

===Corporate strategy===
[[File:Tesco Head Office, Welwyn Garden City, Hertfordshire, England.jpg|thumb|Tesco head office in [[Welwyn Garden City]], Hertfordshire, England, 2023]]
According to [[Citigroup]] retail analyst David McCarthy, "[Tesco has] pulled off a trick that I'm not aware of any other retailer achieving. That is to appeal to all segments of the market".<ref>{{cite news|url=http://news.bbc.co.uk/1/hi/business/4605115.stm|first=Hannah|last=Liptrot|publisher=BBC|title=Tesco: Supermarket superpower|date=3 June 2005|access-date=5 June 2005|archive-date=31 December 2005|archive-url=https://web.archive.org/web/20051231210407/http://news.bbc.co.uk/1/hi/business/4605115.stm|url-status=live}}</ref> One plank of this strategy has been Tesco's use of its own-brand products, including the upmarket "Finest", mid-range Tesco brand and low-price "Value" encompassing several product categories such as food, beverage, home, clothing, Tesco Mobile and financial services.<ref>{{cite news|url=http://news.idealo.co.uk/news/4521/tescos-still-pushing-discount-products-to-fight-back-competitors.html|title=Tesco's still pushing discount products to fight back competitors|publisher=Household & Leisure|date=15 January 2009|access-date=13 September 2014|archive-url=https://web.archive.org/web/20150126030956/http://news.idealo.co.uk/news/4521/tescos-still-pushing-discount-products-to-fight-back-competitors.html|archive-date=26 January 2015|url-status=dead}}</ref> Tesco have two vegan ranges branded Plant Chef and [[Wicked Kitchen]].<ref>{{cite web|title=Tesco expands Wicked Kitchen and Plant Chef ranges with new meal deal launches|publisher= Vegan Food and Living |url=https://www.veganfoodandliving.com/news/tesco-wicked-kitchen-plant-chef-vegan-meal-deal-launch/|archive-url=https://web.archive.org/web/20220704235927/https://www.veganfoodandliving.com/news/tesco-wicked-kitchen-plant-chef-vegan-meal-deal-launch/ |archive-date=4 July 2022 }}</ref>

Beginning in 1997 when Terry Leahy took over as CEO, Tesco began marketing itself using the phrase "The Tesco Way" to describe the company's core purposes, values, principles, and goals<ref>{{cite news|url=http://www.icmrindia.org/casestudies/catalogue/Business%20Strategy/Tesco%27s%20%27Steering%20Wheel%27%20Strategy.htm|publisher=ICMR|title=Tesco's 'Steering Wheel' Strategy|year=2005|access-date=24 October 2007|archive-date=23 December 2007|archive-url=https://web.archive.org/web/20071223102844/http://www.icmrindia.org/casestudies/catalogue/Business%20Strategy/Tesco%27s%20%27Steering%20Wheel%27%20Strategy.htm|url-status=live}}</ref> This phrase became the standard marketing speak for Tesco as it expanded domestically and internationally under Leahy's leadership, implying a shift by the company to focus on people, both customers, and employees.<ref>{{cite web|url= http://www.tesco-graduates.com/home/programmes/office/personnel|title= Human Resources – Tesco Careers|access-date= 24 October 2007|archive-date= 20 August 2007|archive-url= https://web.archive.org/web/20070820150131/http://www.tesco-graduates.com/home/programmes/office/personnel|url-status= live}}</ref>

A core part of the Tesco expansion strategy<ref>{{cite web |url=http://www.cio.co.uk/cio100/tesco/1699/ |title=Tesco – CIO 100 Company – CIO UK Magazine |publisher=Cio.co.uk |access-date=16 April 2010 |archive-date=20 July 2011 |archive-url=https://web.archive.org/web/20110720062812/http://www.cio.co.uk/cio100/tesco/1699/ |url-status=live }}</ref> has been its innovative use of technology.<ref>{{cite web |url=http://www.cio.co.uk/article/583/tesco-storm-the-us-with-box-offering/?otc=44 |title=Tesco storm the US with Box offering – In-Depth – CIO UK Magazine |publisher=Cio.co.uk |access-date=16 April 2010 |archive-date=20 July 2011 |archive-url=https://web.archive.org/web/20110720062832/http://www.cio.co.uk/article/583/tesco-storm-the-us-with-box-offering/?otc=44 |url-status=live }}</ref> It was one of the first to build self-service tills and use cameras to reduce queues, and an early adopter of [[Near field communication|NFC]] [[contactless payment]] card technology.<ref>{{cite web |url=http://www.cio.co.uk/news/3204/technology-helps-tesco-beat-crunch/?otc=44 |title=Technology helps Tesco beat crunch |publisher=Cio.co.uk |access-date=16 April 2010 |archive-date=20 July 2011 |archive-url=https://web.archive.org/web/20110720062855/http://www.cio.co.uk/news/3204/technology-helps-tesco-beat-crunch/?otc=44 |url-status=live }}</ref> In 2016, Tesco developed a mobile payment wallet, PayQwiq using both NFC contactless and [[2D barcode|barcode]] technology to allow payment using mobile phones in-shop (along with supporting other contactless mobile wallets such as [[ApplePay]]).<ref>{{cite web |url=http://www.thegrocer.co.uk/stores/store-design/tesco-announces-plans-to-widen-roll-out-of-its-payqwiq-app/534035.article |title=Tesco announces plans to widen roll-out of its PayQwiq payment app nationally |publisher=thegrocer.co.uk |access-date=11 October 2016 |archive-date=11 October 2016 |archive-url=https://web.archive.org/web/20161011224039/http://www.thegrocer.co.uk/stores/store-design/tesco-announces-plans-to-widen-roll-out-of-its-payqwiq-app/534035.article |url-status=live }}</ref>

===Financial performance===
All figures below are for the Tesco financial years, which run for 52- or 53-week periods to late February.<ref name=results/>

{|class="wikitable" style="margin:0 auto 0 auto"
! 52/3 weeks ended
! Turnover (£m)
! Profit before tax (£m)
! Profit for year (£m)
! Basic [[earnings per share]] (p)
|-
|24 February 2024
|67,673
|2,289
|1,764
|16.74
|-
|25 February 2023
|65,762
|2,076
|744
|10.05
|-
|26 February 2022
|61,344
|2,197
|1,483
|19.34
|-
|27 February 2021
|57,887
|825
|6,147
|63.80
|-
|29 February 2020
|64,760
|1,315
|973
|9.99
|-
|15 February 2019
|63,911 
|1,674
|1,320
|13.65
|-
|25 February 2018
|57,491
|1,298
|992
|14.77
|-
|25 February 2017
|55,917
|145
|(54)
|(0.49)
|-
| 28 February 2016
| 53,933
| 202
| 129
| 1.70
|-
| 28 February 2015
| 62,284
| (6,376)
| (5,766)
| (70.82)
|-
| 22 February 2014
| 70,894
| 3,054
| 2,259
| 32.05
|-
| 23 February 2013
| 64,826
| 3,549
| 3,453
| 35.97
|-
| 25 February 2012
| 64,539
| 3,985
| 2,814
| 34.98
|-
| 26 February 2011
| 67,573
| 3,535
| 2,671
| 33.10
|-
| 27 February 2010
| 62,537
| 3,176
| 2,336
| 31.66
|-
| 28 February 2009
| 54,300
| 3,128
| 2,166
| 28.92
|-
| 23 February 2008
| 47,298
| 2,803
| 2,130
| 26.95
|-
| 24 February 2007
| 46,600
| 2,653
| 1,899
| 22.36
|-
| 25 February 2006
| 38,300
| 2,210
| 1,576
| 19.70
|-
| 26 February 2005
| 33,974
| 1,962
| 1,366
| 17.44
|-
| 28 February 2004
| 30,814
| 1,600
| 1,100
| 15.05
|-
| 22 February 2003
| 26,337
| 1,361
| 946
| 13.54
|-
| 23 February 2002
| 23,653
| 1,201
| 830
| 12.05
|-
| 24 February 2001
| 20,988
| 1,054
| 767
| 11.29
|-
| 26 February 2000
| 18,796
| 933
| 674
| 10.07
|-
| 27 February 1999
| 17,158
| 842
| 606
| 9.14
|-
| 28 February 1998
| 16,452
| 760
| 532
| 8.12
|}

Despite being in a recession, Tesco made record profits for a British retailer in the year to February 2010, during which its underlying pre-tax profits increased by 10.1% to £3.4&nbsp;billion. Tesco then planned to create 16,000 new jobs, 9,000 in the UK.<ref>{{Cite news |url=https://www.theguardian.com/business/2010/apr/20/tesco-rings-up-record-profits-again |title=Tesco rings up record profits |date=20 April 2010 |work=The Guardian |access-date=20 April 2010 |location=London |first=Graeme |last=Wearden |archive-date=28 September 2013 |archive-url=https://web.archive.org/web/20130928140905/http://www.theguardian.com/business/2010/apr/20/tesco-rings-up-record-profits-again |url-status=live }}</ref> In 2011 the retailer reported its poorest six-monthly UK sales figures for 20 years, attributed to consumers' reduced non-food spending and a growth in budget rivals.<ref name="guardian consumers cut non-essential spending">{{cite news | url=https://www.theguardian.com/business/2011/oct/05/tesco-sales-slide-consumers-cut-back | title=Tesco's UK sales slide as consumers cut non-essential spending | work=[[The Guardian]] | date=5 October 2011 | access-date=5 October 2011 | last=Wood | first=Zoe | location=London | quote=Tesco has reported its weakest six-monthly UK sales figures for 20 years as higher food and fuel costs contributed to stark decline in spending on non-essentials such as gadgets, CDs and games in its stores. | archive-date=28 September 2013 | archive-url=https://web.archive.org/web/20130928135815/http://www.theguardian.com/business/2011/oct/05/tesco-sales-slide-consumers-cut-back | url-status=live }}</ref>

By 2014, Tesco appeared to have lost some of its appeal to customers.<ref>{{cite news|last1=Ahmed|first1=Kamal|title=Tesco, what went wrong?|url=https://www.bbc.co.uk/news/business-29716885|access-date=23 January 2015|work=BBC News|date=22 October 2014|archive-date=30 December 2014|archive-url=https://web.archive.org/web/20141230191029/http://www.bbc.co.uk/news/business-29716885|url-status=live}}</ref> The share price lost 49 per cent of its value up to October as it struggled to fend off competition from rivals [[Aldi]] and [[Lidl]].<ref>{{cite news|title=Warren Buffett admits Tesco investment 'a huge mistake'|url=http://www.ft.com/cms/s/0/27963a92-4a36-11e4-8de3-00144feab7de.html|archive-url=https://ghostarchive.org/archive/20221210221213/https://www.ft.com/content/27963a92-4a36-11e4-8de3-00144feab7de#axzz3F0yku4Ol|archive-date=10 December 2022|url-access=subscription|url-status=live|access-date=3 October 2014|newspaper=Financial Times|date=2 October 2014}}</ref> In October 2014, Tesco suspended 8 executives following its announcement the previous month that it had previously overstated its profits by £250&nbsp;million. The misreporting resulted in almost £2.2&nbsp;billion being wiped off the value of the company's stock market value. The suspended executives included former commercial director Kevin Grace and UK managing director Chris Bush.<ref>{{cite news|url=https://www.bbc.co.uk/news/business-29306444|title=Tesco suspends execs as inquiry launched into profit overstatement|date=22 September 2014|work=BBC News|access-date=29 October 2014|archive-date=19 October 2014|archive-url=https://web.archive.org/web/20141019012618/http://www.bbc.co.uk/news/business-29306444|url-status=live}}</ref><ref>{{cite news |url=https://www.bbc.co.uk/news/business-29613946 |title=Tesco suspends three more top staff |date=14 October 2014 |work=BBC News |access-date=29 October 2014 |archive-date=27 October 2014 |archive-url=https://web.archive.org/web/20141027022428/http://www.bbc.co.uk/news/business-29613946 |url-status=live }}</ref> The profit overstatement was subsequently revised upwards to £263&nbsp;million following an investigation by the accountancy firm [[Deloitte]], and it was clarified that the inflated profit figure was the result of Tesco bringing forward rebates from suppliers. The [[Serious Fraud Office (United Kingdom)|Serious Fraud Office]] (SFO) confirmed on 29 October 2014 that it was carrying out a criminal investigation into the accounting irregularities but declined to give further details.<ref>{{cite news |url=https://www.bbc.co.uk/news/business-29821061 |title=Serious Fraud Office starts Tesco criminal investigation |date=29 October 2014 |work=BBC News |access-date=29 October 2014 |archive-date=20 August 2018 |archive-url=https://web.archive.org/web/20180820050534/https://www.bbc.co.uk/news/business-29821061 |url-status=live }}</ref> As a result, Tesco agreed to pay a fine and compensation.<ref>{{Cite web|url=https://www.theguardian.com/business/2017/mar/28/tesco-agrees-fine-serious-fraud-office-accounting-scandal|title=Tesco to pay £129m fine over accounting scandal|first1=Graham|last1=Ruddick|first2=Julia|last2=Kollewe|work=The Guardian|date=28 March 2017|access-date=30 November 2019|archive-date=9 December 2019|archive-url=https://web.archive.org/web/20191209080225/https://amp.theguardian.com/business/2017/mar/28/tesco-agrees-fine-serious-fraud-office-accounting-scandal|url-status=live}}</ref> Three executives charged with fraud and false accounting in connection with the misreporting were cleared of the charges in 2018–2019.<ref>{{Cite web|url=https://www.ft.com/content/e470725e-1ef8-11e9-b126-46fc3ad87c65 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/e470725e-1ef8-11e9-b126-46fc3ad87c65 |archive-date=10 December 2022 |url-access=subscription |url-status=live|title=Former Tesco executive acquitted over £250m accounting scandal|first=Jane|last=Croft|work=Financial Times|date=23 January 2019|access-date=30 November 2019}}</ref>

===Market share===
According to [[Kantar Worldpanel]], Tesco's share of the UK groceries market in the 12 weeks to 26 January 2025 was 28.5%, up from 27.8% in the 12 weeks to 28 January 2024.<ref name="KantarMarch23">{{Cite web |last=Louis |first=Yasmeen |date=2025-02-04 |title=Lidl and Ocado thrive as Asda's market share slumps |url=https://www.grocerygazette.co.uk/2025/02/04/lidl-ocado-thrive-asdas-slump/ |access-date=2025-02-12 |language=en-US}}</ref>

{|class="wikitable" style="margin:0 auto 0 auto"
! Supermarket
! Market share<br />January 2025
! +/- from<br />January 2024
|- style="background:#ff9;"
|| Tesco
|| 28.5%
|| {{Increase}} 0.7%
|-
| [[Sainsbury's]]
| 15.9%
| {{Increase}} 0.2%
|-
| [[Asda]]
| 12.6%
| {{decrease}} 1.0%
|-
| [[Morrisons]]
| 8.6%
| {{decrease}} 0.2%
|-
| [[Aldi]]
| 10.2%
| {{increase}} 0.1%
|-
| [[Lidl]]
| 7.2%
| {{increase}} 0.3%
|}

In terms of the wider UK retail market, Tesco sales account for around one pound in every ten spent in British shops.<ref>{{cite news |last=Davey |first=James |url=http://uk.reuters.com/article/uk-tesco-idUKBRE83H07H20120418 |title=Tesco curbs UK expansion to focus on revival |work=Reuters (UK) |date=18 April 2012 |access-date=18 April 2013 |archive-date=6 August 2023 |archive-url=https://web.archive.org/web/20230806194152/https://www.reuters.com/?edition-redirect=uk |url-status=dead }}</ref> In 2007 it was reported that its share was even larger, with one pound in every seven spent going to Tesco.<ref>{{cite news|last=Wallop |first=Harry |url=https://www.telegraph.co.uk/news/uknews/1548742/1-in-every-seven-now-spent-in-Tesco.html |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/news/uknews/1548742/1-in-every-seven-now-spent-in-Tesco.html |archive-date=11 January 2022 |url-access=subscription |url-status=live |title=£1 in every seven now spent in Tesco |work=The Daily Telegraph |date=16 April 2007 |access-date=18 April 2013 |location=London}}{{cbignore}}</ref> In 2006, [[Inverness]] was branded as "Tescotown",<ref>{{cite news |url=http://news.bbc.co.uk/1/hi/scotland/4618972.stm |work=BBC News |title=Tesco accused of 'near monopoly' |date=17 January 2006 |access-date=13 March 2006 |archive-date=29 June 2006 |archive-url=https://web.archive.org/web/20060629210610/http://news.bbc.co.uk/1/hi/scotland/4618972.stm |url-status=live }}</ref><ref>{{cite web| url = http://www.tescotown.co.uk/| title = Inverness: Tescotown| access-date = 13 March 2006| archive-date = 2 April 2006| archive-url = https://web.archive.org/web/20060402213325/http://tescotown.co.uk/| url-status = live}}</ref> because well over 50p in every £1 spent on food is believed to be spent in its three Tesco shops.<ref>{{cite news |url=http://observer.guardian.co.uk/uk_news/story/0,6903,1676049,00.html |first=Lorna |last=Martin |work=The Observer |location=London |title=The supermarket that ate a town |date=1 January 2006 |access-date=13 March 2006 |archive-date=9 September 2006 |archive-url=https://web.archive.org/web/20060909192611/http://observer.guardian.co.uk/uk_news/story/0,6903,1676049,00.html |url-status=live }}</ref> By 2014 competition from other retailers led to a fall in Tesco's market share to 28.7%; this was the lowest level in a decade.<ref>{{cite news |url=https://www.theguardian.com/business/2014/oct/23/tesco-timeline-the-highs-and-lows |title=Tesco timeline - the highs and lows of the UK's biggest retailer |last=Butler |first=Sarah |work=The Guardian |location=London |access-date=21 March 2015 |archive-date=16 January 2015 |archive-url=https://web.archive.org/web/20150116171656/http://www.theguardian.com/business/2014/oct/23/tesco-timeline-the-highs-and-lows |url-status=live }}</ref>

===Corporate social responsibility===
Tesco made a commitment to [[corporate social responsibility]] in the form of contributions of 1.87% in 2006 of its pre-tax profits to charities and local community organisations.<ref name=GiveList06>{{Cite news |url=http://image.guardian.co.uk/sys-files/Society/documents/2006/11/08/ftse100.pdf |title=PDF of The 2006 Giving List |work=The Guardian |access-date=18 March 2007 |location=London |archive-date=16 June 2007 |archive-url=https://web.archive.org/web/20070616024800/http://image.guardian.co.uk/sys-files/Society/documents/2006/11/08/ftse100.pdf |url-status=live }}</ref> This compares favourably with [[Marks & Spencer]], whose 1.51% is lower than Sainsbury's 7.02%.<ref>{{Cite news |url=http://www.thirdsector.co.uk/news/Article/615827/ftse-100-companies-reduce-charity-giving/ |archive-url=https://web.archive.org/web/20120326134535/http://www.thirdsector.co.uk/news/Article/615827/ftse-100-companies-reduce-charity-giving/ |url-status=dead |archive-date=26 March 2012 |title=FTSE 100 companies reduce charity giving| date=8 November 2006|publisher=Third Sector}}</ref> This figure, £42&nbsp;million is lower than the amount of money reported to have been avoided in tax during 2007 ([[#Corporate tax structure|see below]]). [[Will Hutton]], in his role as chief executive of The Work Foundation, in 2007 praised Tesco for leading the debate on corporate responsibility.<ref name=WorkFoundtesco>{{cite web |url=http://www.theworkfoundation.com/aboutus/media/pressreleases/tescocorporatesocialresponsibility.aspx
 |title=The Work Foundation praises Tesco |publisher=The Work Foundation |access-date=18 March 2007 |archive-url=https://web.archive.org/web/20071005054452/http://www.theworkfoundation.com/aboutus/media/pressreleases/tescocorporatesocialresponsibility.aspx <!-- Bot retrieved archive -->
 |archive-date=5 October 2007}}</ref> However ''[[Intelligent Giving]]'' has criticised the company for directing all "staff giving" support to the company's Charity of the Year.<ref name=IGtesco>{{cite web |url=http://www.intelligentgiving.com/articles/features/get_the_boss_to_help_your_charity |title=Intelligent Giving criticises Tesco's staff giving policies |publisher=Intelligent Giving |access-date=18 March 2007 |archive-date=31 March 2007 |archive-url=https://web.archive.org/web/20070331180713/http://www.intelligentgiving.com/articles/features/get_the_boss_to_help_your_charity |url-status=usurped }}</ref>

In 1992, Tesco started a "computers for schools scheme", offering computers in return for vouchers given to Tesco customers and donated by them to schools and hospitals. Until 2004, £92&nbsp;million of equipment went to these organisations. The scheme was also implemented in Poland.<ref name=CFStesco>{{cite web |url=http://www.bitc.org.uk/resources/case_studies/crmtescocfs.html |title=BITC – Tesco Computers for Schools |access-date=19 January 2006 |archive-url=https://web.archive.org/web/20051104084131/http://www.bitc.org.uk/resources/case_studies/crmtescocfs.html <!-- Bot retrieved archive --> |archive-date=4 November 2005}}</ref>

In 2009, Tesco used the phrase, "Change for Good" as advertising, which is trademarked by [[Unicef]] for charity usage but not for commercial or retail use, which prompted the agency to say, "It is the first time in Unicef's history that a commercial entity has purposely set out to capitalise on one of our campaigns and subsequently damage an income stream which several of our programmes for children are dependent on." It went on to call on the public "...who have children's welfare at heart, to consider carefully who they support when making consumer choices."<ref>{{Cite news |url=http://www.irishtimes.com/newspaper/ireland/2009/0725/1224251305112.html |title=Unicef accuses Tesco of misusing charity slogan |newspaper=The Irish Times |date=25 July 2009 |first=Marie |last=O'Halloran |access-date=25 July 2009 |archive-date=16 May 2011 |archive-url=https://web.archive.org/web/20110516024843/http://www.irishtimes.com/newspaper/ireland/2009/0725/1224251305112.html |url-status=live }}</ref><ref>{{Cite news |url=http://www.independent.ie/business/irish/tesco-in-clash-with-unicef-1841427.html |title=Tesco in clash with Unicef |work=Irish Independent |location=Dublin |first=Louise |last=McBride |date=26 July 2009 |access-date=26 July 2009 |archive-date=28 March 2010 |archive-url=https://web.archive.org/web/20100328095340/http://www.independent.ie/business/irish/tesco-in-clash-with-unicef-1841427.html |url-status=live }}</ref>

Tesco's own-labels personal care and household products are stated to be cruelty-free, meaning that they are not tested on animals.<ref>{{cite web |url=http://www.gocrueltyfree.org |archive-url=https://web.archive.org/web/20070606095230/http://www.gocrueltyfree.org/ |url-status=dead |archive-date=6 June 2007 |title=Welcome |publisher=Go Cruelty Free |access-date=18 April 2013 }}</ref>

In June 2011, Tesco announced that it was working with 2degrees Network to create an online hub as part of its target to reduce its supply chain [[carbon footprint]] by 30% by 2020.<ref>{{cite web |url=http://retailtimes.co.uk/tesco-gets-suppliers-collaborating-on-carbon-emissions-online/ |title=Tesco gets suppliers collaborating on carbon emissions online |publisher=Retailtimes.co.uk |date=3 June 2011 |access-date=28 August 2011 |archive-date=27 March 2012 |archive-url=https://web.archive.org/web/20120327160910/http://retailtimes.co.uk/tesco-gets-suppliers-collaborating-on-carbon-emissions-online/ |url-status=live }}</ref>

In September 2011, a Greenpeace report revealed that Tesco supermarkets in China were selling vegetables that contained pesticides at levels exceeding the legal limit, or were illegal. A green vegetable sample from Tesco turned up methamidophos and monocrotophos, the use of which has been prohibited in China since the beginning of 2007.<ref name=tescogreenpeace>{{Cite news|title = Banned pesticides detected on vegetables in Tesco and other supermarkets in China|publisher = Greenpeace East Asia|date = 8 September 2011|url = http://www.greenpeace.org/eastasia/news/blog/banned-pesticides-detected-on-vegetables-in-t/blog/36666/|access-date = 30 September 2011|archive-date = 19 November 2011|archive-url = https://web.archive.org/web/20111119222612/http://www.greenpeace.org/eastasia/news/blog/banned-pesticides-detected-on-vegetables-in-t/blog/36666/|url-status = dead}}</ref>