Introduction
In 2005, Tesco PLC became the first UK retailer to achieve profits before tax exceeding £2 billion. Over the preceding five years, its total sales had increased from £22 .6bn to £37 .lbn, making it one of the top ten fastest growing retailers in the world (see Figure 1 below). In this period, Tesco had entered five new international markets, had boosted its store numbers from 900 to over 2,330, and had nearly doubled its retail floor space . In the UK, its market share was almost a third of total spend on grocery products and is market leader, outselling its closest rival by almost two-to-o ne: