Tesco is world's 10th largest retailer

Supermarket group Tesco has become one of the retailing "elite" after becoming the world's tenth largest retailer by sales.

Supermarket group Tesco has become one of the retailing "elite" after becoming the world's tenth largest retailer by sales.

A report by information firm Retail Intelligence shows the Tesco has nudged into the top ten in 2000, from its position as number eleven in 1999.

Wal-Mart, the US giant which owns Asda, retained its place at number one by a long way.

French firm Carrefour was number two and US giant Kroger number three.

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Retail Intelligence says that while few companies are well placed to challenge Wal-Mart on its own ground, it singles out Tesco and Dutch group Ahold as having the right strategy and proven ability to adapt to local conditions.

When ranking the top retailers by proven international capability, Retail Intelligence say Carrefour is first with operations in 27 countries, Wal-Mart is third with 10 countries, while Tesco is at number five with eight.

PA