Comparison of Two Companies Essay Example | Topics and Well Written Essays - 3000 words

Comparison of Two Companies - Essay Example In the year 1929, Cohen opened the first ever Tesco store in North London. During the 1930s, the company experienced growth as Cohen began to buy stores in the expanding London suburbs, and in the year 1947 the company became a public company. It was in 1958 that the first supermarket was inaugurated in Maldon, Essex. Household goods became item of sale for the company from the year 1960. In the year 1993, the company introduced Tesco Value which allows the customers to choose goods from a wide range of products at attractive prices. The company gained international status in the year 1995 after capturing the Hungarian market. It entered the Chinese market in the year 2004 by opening 100 stores and the US market in the year 2007 under the name Fresh & Easy. In the year 2012, Tesco for the first time started online shopping service with a wide range of fresh and frozen food. Since its inception the company has consistently flourished and today it has more than 53,000 people working fo r the company, and caters to more than millions of customers every week (â€Å"Tesco: History†). The company’s mission is to provide the ultimate shopping experience to its customers. Morrisons Supermarket is the fourth largest retail chain in UK with more than 500 stores. Food and grocery are its main products sold in weekly stores. For over 100 years, Morrisons Supermarket has ruled the retail market of the UK. The founder of this chain of retail stores is William Morrison, an egg and butter merchant, who opened his first store in the year 1899 in Bradford market. In the year 1967, Morrisons was declared as a public company with 80,000 shares becoming instant demand among investors. After showing high sales and a consistent increase of profit for 35 years, the company joins the FTSE 100 for the first time in April 2001 (Morrisons: Company History). As of 2013, Morrisons has captured 11.8 percent of the  £101bn value of UK grocery store market.