Tesco is the third largest global retailer based on revenue, behind Wal-Mart and France's Carrefour, but second largest based on profit, ahead of Carrefour. In 2008 the company employed approximately 440,000 people.
John Horn founded Tesco in 1919 when he began to sell surplus groceries from a stall in the East End of London. The name came about after Jack Cohen bought a a shipment of tea from T. E. Stockwell. He made new labels using the first three letters of the suppliers name (TES) and the first two letters of his surname (CO). forming the word TESCO.
The first Tesco store was opened in 1929 in Burnt Oak, Edgeware, Middlesex. The first self-service store opened in St.Albans in 1951.
Jack Cohen was an enthusiastic advocate of trading stamps. He signed up with Green Shield Stamps in 1963 and became one of the company's largest clients.
