Topic: EconomicsInvestment

Last updated: August 30, 2019

History of TescoAt the age of 20 Jack Cohen, a former war soldier decided to invest his demob money in surplus stock.Jack’s investment was instantly successful as he was able to make 25% profit ie (£1)-from only £4 worth of sales. Jack’s constant reinvestment enabled him to expand his business.5 years later, in 1924, Jack began selling his own products under the name TESCO -TEA alongside T.

E Stockwell-Jack’s partner in the tea supplying firm. The name Tesco was made by using TE from Stockwell’s first name as well as the S from his surname, this was then combined with the first two letters of Jacks surname (Cohen) to create TESCO. On holiday in the US Cohen noticed that American supermarkets used a self service style of shopping,Cohen decided to use this style of service as he believed the amount of human resources required by the business could be reduced. Cohen opened his newly found service shop in 1948 in St Albans this was Cohen this comenated the begging of what was to be the 1 out of thousands of self service shops worldwide

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