Size of the Business 80 years later
Size of the Business
80 years later, Tesco a public limited company has become one of the most successful British Supermarkets, with a market capital value of just over $32.5 billion.One of the reason for Tesco success is due to their worldwide domination which consists of over 3,400 stores nationally and furthermore 3,200 stores across the three main continents. This includes 520 stores in China ,126 fresh&easy stores in the US and 216 stores in Hungary. Tesco produces over £470 million pounds per annual from international sales. Therefore it may not come as a surprise that Tesco is ranked amongst the top three grocery retailers in the world alongside Carrefour (French superstore) and Walmart(American superstore). Tesco has a unique variety of stores which its competitors don’t have for example as well as having Tesco supermarkets Tesco also has an express, metro and Tesco extra shop.Tesco chain is so big that they employ around 460,000 employees in the uk and 40,000 people across their 3,400 stores internationally. This works out to be a staggering employment over nearly half a million people. Tesco has have 2 and a half times the employees than its competitors ASDA who only have 165,000 in the uk.In order for one to fully understand the enormous scale of the Tesco business people have to take in the fact that TESCO baseline minimum hourly wage for emplyoess is 62p higher than ASDA how only pay staff £7.00 a hour.By the end of November 2018 Tesco are seeking to increase their employee staff wage to £8.42 which will be a £1.42 higher than ASDA wage.