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Tesco is the UK's leading supermarket chain. The company overtook
arch-rival Sainsbury's to become Britain's biggest food retailer in 1995, and has
continued to extend its lead ever since. In 1999, the group went one step further, becoming the UK's most profitable
retailer as well, after Marks & Spencer announced a dramatic fall in net
earnings. It has steadily improved on that position ever since, setting a new record in 2008 as trading profits broke the £3bn
barrier for the first time. Now, Tesco is looking to the international market for further expansion, and entered the US for
the first time in 2007. It is expected to overtake Carrefour as the world's #2
retail group by 2012. The platform for this astonishing growth was established in the 1970s and 1980s when former managing
director Ian MacLaurin fought a long and drawn-out battle with the store's founding family to drag the brand upmarket,
before overseeing a range of innovative schemes during the 1990s.
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