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In the year ended 26 February 2005 Tesco made a pre-tax profit of ?1.962 billon on turnover of ?33.974 billion. Some would argue that if we were to include Tesco's share of the convenience store market (bizarrely considered a separate sector by UK competition authorities) in this figure, Tesco could be said to control 34% of the grocery market. Considering how concentrated and cut-throat the 'supermarket' market is, this is quite an achievement.
Tesco is equally impressive when considering its share of the total retail market. In its interim statement of results (August 2003), Tesco claimed 'our share of the total retail market is just 12...
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