Tesco's humble East End origins
TESCO started corporate life in 1919 as a market stall in the East End of London but today it is the world’s third largest retailer.
Only Wal-Mart, US owner of Asda, and France’s Carrefour are bigger.
The group operates in 13 countries and employs 520,000 people worldwide, generating annual sales of more than £72billion, according to its last results.
Britain remains its largest market with 3,054 stores and sales of £42billion, accounting for £1 in every £10 spent by shoppers.
Fresh & Easy in the US is a small piece of the international jigsaw.
Sales from 1,350 continental stores, where Poland is its largest market, generate £9.9billion sales.
Its 1,724 stores in Asia account for £10.8billion of sales, led by Thailand with 1,092 shops under the Tesco Lotus brand and 50,000 staff.
Analyst Clive Black at Shore Capital said withdrawal from the US would leave the focus on “making the most from a group that retains strong cash generative capabilities, a robust balance sheet and leading market positions in most of its trading territories.”