Newspaper article The Evening Standard (London, England)

Odds against a Tesco Rock Buy

Newspaper article The Evening Standard (London, England)

Odds against a Tesco Rock Buy

Article excerpt

Byline: Anthony Hilton CITY COMMENT

IT IS a sad reflection of our times that the City seems to think it is impossible to build a business other than by acquisition.

Thus when Sir Terry Leahy announced that Tesco's personal finance business was to be renamed Tesco Bank and would soon start offering current accounts to its customers, the rumour immediately flew round that he would put in a bid for the profitable part of Northern Rock.

Nothing is impossible but it is highly unlikely. Tesco is tempted to go into financial services because it has an edge, and that edge is that for more than 10 years it has been collecting data via its loyalty cards. It knows what millions of people have bought and in what quantities, and by knowing what people buy it is possible to build a pretty accurate picture of them as consumers -- an idea of their income, whether married or single, the number and likely ages of children. In a consumer society such as ours, we are what we buy. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.