Tesco group capital expenditure worldwide 2016/17-2022/23, by region

In the United Kingdom and Ireland, Tesco reported a capital expenditure of 1.07 billion British pounds during the financial year 2022/23. Tesco PLC is headquartered in Hertfordshire, United Kingdom.

Tesco: the leading supermarket chain in the UK

Tesco is one of the leading supermarket brands in the United Kingdom, consistently ranking highest in terms of grocery market share. Tesco's revenue reached around 64.66 billion British pounds in the UK and Ireland in the financial year 22/23, over double the figure generated by its competitor Sainsbury’s during 2021/22. Tesco was ranked the fourth largest supermarket chain in Europe based on sales, the only UK-based grocery retailer to feature on the list.

The rise of online grocery shopping

With the onset of the COVID-19 pandemic in March 2020, online retail sales of edible groceries spiked in the United Kingdom. Taking 2019 as baseline, the monthly index of online food retail sales peaked at 240.8 in February 2021 during the second pandemic winter. Even though online grocery shopping may have declined or plateaued since the start of the pandemic, current levels are still much higher than what they were before the pandemic. E-commerce net sales of Tesco.com increased from 4.6 billion U.S. dollars in pre-pandemic 2019 to more than 7.1 billion U.S. dollars in 2022.