Tesco PLC (Public, LON: TSCO) is a UK-based international grocery and general merchandising retail chain. The Company has retail operations across the United Kingdom, Asia and Europe. The Company engages in banking operations, through Tesco Bank. Tesco Bank’s banking products include customer accounts for credit cards, loans, mortgages and savings.
The Company offers a range of 4,000 own brand products, as of December 22, 2014. The Company operates through four segments: the United Kingdom, Asia, Europe and Tesco Bank. The Company operates approximately 3,378 stores in the United Kingdom. The Company operates approximately 2,417 stores in Asia. It operates approximately 1,510 stores in Europe. Tesco Bank offers retail banking and insurance services in the United Kingdom.
It is currently the third largest global retailer based on revenue, behind Wal-Mart and France's Carrefour, but second largest based on profit, ahead of Carrefour. Originally specialising in food and drink, it has diversified.
In 2018, Tesco launched a separate budget chain, Jack's, to compete with Lidl and Aldi; the first store opened in Chatteris, Cambridgeshire in September 2018