Tesco Speech

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Dear associates and Tesco customers, we are pleased to announce this event for open. I had a dream of Tesco being worldwide, easy and always accessible anytime everywhere. And now more than ever we are close this dream. My name is Terry Leahy, the CEO of Tesco and ever since I took over this company I knew that I wouldn’t be easy. Last year our shares diminished by a staggering 20%! But we are set to change that!

As of next year we will have 20.000 new co-workers, this is due to our vision of gathering focus to the small shops. This also links up to our new completely own brand “Everyday Value”, this involves better quality but also cheaper products.

And now onto online shopping, which we believe will be the future of tomorrow: Our access to supermarkets and shopping malls has not always been the same; I think that some of you who are at my age surely agree. The development of retailing the past decades has been amazing. The shops after Second World War were some post-war experiments, which never managed to succeed, because of their inability to show what they stood for. People had to use plenty of hours at week to buy goods, because the shops did not manage to provide all of the customers' needs. Back then disposable income was very low, if compared to the prices of goods, which made their life harder, because these products were necessary. But today the life is a lot easier, if we just look at the many shopping possibilities today. We have access to several supermarkets with a huge product range to reasonable prices and hence the retailing business popularity is increasing. One great example is Tesco who has managed to put its flag across 12 countries and has over 2 000 store around the globe and hence transformed the retailing business. So overall through history it has become much easier to buy products, which have been liberating for women especially, thanks to Tesco and other supermarkets of course. Although the retailing outlet business surely has...
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