AT A GLANCE: Timeline Of Tesco's Growth Under Leahy's Tenure

8th Jun 2010 09:33

LONDON (Dow Jones)--Tesco PLC (TSCO.LN) Chief Executive Terry Leahy is retiring from the world's fourth-biggest retailer by sales next year following a 14-year run. Here are the main events affecting the U.K.-based company over that time. 2010-2009: Reaches group sales of GBP62.5 billion for the fiscal year ended Feb. 27, up from GBP20.4 billion in 2000, with 4,811 stores and a presence in 14 countries. 2008: Tesco announces plans to establish cash and carry business in India and buys 36 hypermarkets in South Korea. 2007: Company opens Fresh & Easy chain in the U.S. 2005: Tesco exits Taiwanese market in asset-swap deal with France's Carrefour (CA.FR). In exchange, it buys Carrefour's operations in Czech Republic and Slovakia. Tesco also becomes first U.K. retailer to reach annual profits of more than GBP2 billion. 2004: Supermarket giant enters Chinese market, launches U.K. broadband service and own-brand Fairtrade range. 2003: Enters Turkey and Japan. 2002: Tesco enters Malaysian market. 2000: Retailer launches Tesco.com website in the U.K.. 1999: Launches a new online bookstore and online banking for U.K. customers. Enters South Korea market and starts publishing supermarket price comparisons on the Internet in the U.K. 1998: Company enters Taiwan and Thailand and launches its Finest range of products - a range of own-brand goods that competes with premium branded products. 1997: Leahy becomes CEO and Tesco enters the Republic of Ireland. -By Patricia Kowsmann, Dow Jones Newswires. Tel +44(0)207-842-9295, [email protected] (END) Dow Jones Newswires June 08, 2010 04:33 ET (08:33 GMT)