Walter Mondale

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Walter Frederick "Fritz" Mondale (born January 5, 1928 in Ceylon, Minnesota) is an American politician and member of the Democratic-Farmer-Labor Party. He was the 42nd US Vice President (1977-1981) under President Jimmy Carter. He was also a two-term US Senator from Minnesota and the Democratic Party nominee for president in 1984 against the incumbent, Republican Ronald W. Reagan, who was reelected in a landslide when Mondale carried only his home state of Minnesota and the District of Columbia.

Early life

Mondale was born in Ceylon, Minnesota, the son of a Methodist minister. His half-brother was the Unitarian minister Lester Mondale. He was educated at Macalester College in St. Paul and the University of Minnesota, graduating in 1951. He then served two years at Fort Knox, in the U.S. Army during the Korean War. He graduated with a law degree from the University of Minnesota Law School in 1956 and began to practice law in Minneapolis.

Entry into politics and U.S. Senator

He managed the re-election campaign of Gov. Orville Freeman, who in return in 1960 appointed Mondale the state's attorney general. He spent two terms as attorney general. When Hubert H. Humphrey II was elected vice president in 1964, Mondale was appointed to Humphrey's seat in the Senate. Mondale was elected to the seat in 1966 and re-elected in 1972.

Mondale gained public notice for his role in the Apollo 1 investigation. He attempted to show that NASA was dangerous and a waste of taxpayer money. His ultimate goal was that this money should be directed into social services. Many people came away from the experience with the belief that Mondale was on a witch-hunt.

42nd Vice President

When Jimmy Carter won the Democratic nomination for president in 1976, he chose Mondale as his running mate. Mondale was inaugurated as vice president on 20 January 1977. He was the first vice president to reside at the official vice presidential residence, Number One Observatory Circle. Carter and Mondale were renominated at the 1980 Democratic National Convention, but lost to Ronald W. Reagan and George H. W. Bush. (See U.S. presidential election, 1976, U.S. presidential election, 1980.)

Presidential nominee of 1984

After a brief return to the practice of law, Mondale won the Democratic presidential nomination in the 1984 election. He chose U.S. Rep. Geraldine A. Ferraro of New York as his running mate, making her the first woman nominated for that position by a major party. Mondale ran a liberal campaign, supporting a nuclear freeze and the Equal Rights Amendment (ERA). He spoke against what he considered to be unfairness in Reagan's economic policies and the need to reduce federal budget deficits.

Mondale shakes hands with Ronald Reagan before a debate in 1984.

When he made his acceptance speech at the Democratic Convention, Mondale said: "Let's tell the truth. Mr. Reagan will raise taxes, and so will I. He won't tell you. I just did." Although he intended this to demonstrate that he was honest while Reagan was hypocritical, it was widely remembered as simply a campaign pledge to raise taxes, and it hurt him in the end. In 1986, Reagan did sign into law a bill that raised taxes for corporations, but at the same time cut taxes further for individual taxpayers.

In the 1984 election, Mondale was defeated in a massive landslide, winning only the District of Columbia and his home state of Minnesota, thus securing only 13 electoral votes to Reagan's 525. Mondale's defeat was the worst for any Democratic Party candidate in history, and the worst for any major-party candidate since Alf Landon's loss to Roosevelt in 1936.

Private citizen and ambassador

Following the election, Mondale returned again to private law practice, with Dorsey & Whitney in Minnesota in 1987. From 1986 to 1993, Mondale was chairman of the National Democratic Institute for International Affairs.

Under the presidency of Bill Clinton, he was ambassador to Japan from 1993 to 1996, chaired a bipartisan group to study campaign finance reform, and was Clinton's representative in Indonesia in 1998.

2002 election

Mondale talks during a debate with Norm Coleman in 2002.

In 2002, Democratic US Senator Paul Wellstone of Minnesota, who was running for re-election, died in a plane crash just 11 days before the Nov. 5 election. Mondale, at age 74, replaced Wellstone on the ballot, but narrowly lost the election to the conservative Republican opponent Norm Coleman. Upon conceding the election, Mondale said, "At the end of what will be my last campaign, I want to say to Minnesota, you always treated me well, you always listened to me". Mondale finished with 1,067,246 votes (47.34%) to Coleman's 1,116,697 (49.53%) out of 2,254,639 votes cast. Mondale set a political record of sorts as a result of this loss, becoming the only major party candidate in U.S. history to lose statewide elections in all 50 states (having won only Minnesota in the 1984 election).

Norwegian ancestry

Mondale has always maintained strong ties to his ancestral Norway. Coincidentally, when he entered the Senate in 1964 he took over the seat of vice president Hubert Humphrey, another Norwegian-American. In later years Mondale has served on the executive committee of the Peace Prize Forum, an annual conference co-sponsored by the Norwegian Nobel Institute and five Midwestern colleges of Norwegian heritage. In connection with Norway's Centennial Celebration in 2005, he chairs the committee to promote and develop cultural activities between Norway and Norwegian-American organizations. During the 1984 Presidential election he was even nicknamed "Norwegian wood", a play on the Beatles song, his ancestory and his appearance.

Mondale's 45 year old daughter, Eleanor, is a television personality, who is currently battling brain cancer.


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Mondale's 45 year old daughter, Eleanor, is a television personality, who is currently battling brain cancer. This was wlcomed in some quareters, but the unions were disappointed at the loss of this benefit. During the 1984 Presidential election he was even nicknamed "Norwegian wood", a play on the Beatles song, his ancestory and his appearance.
In May 2004, Tesco announced it was reducing sick pay in an attempt to reduce levels of unplanned absence. In connection with Norway's Centennial Celebration in 2005, he chairs the committee to promote and develop cultural activities between Norway and Norwegian-American organizations. It reported that no official complaints had been received against Tesco or any of the other major supermarkets, but the supermarkets' critics, including Friends of the Earth, contested that suppliers were prevented from complaining by fear of losing business, and called for more rigorous supervision of the supermarkets. In later years Mondale has served on the executive committee of the Peace Prize Forum, an annual conference co-sponsored by the Norwegian Nobel Institute and five Midwestern colleges of Norwegian heritage. In March 2005 the Office of Fair Trading published an audit of the workings of its code of practice on relationships between supermarkets and their suppliers.

Coincidentally, when he entered the Senate in 1964 he took over the seat of vice president Hubert Humphrey, another Norwegian-American. The company responds by claiming that it follows industry-best practice and sources locally where it can to meet customer demand. Mondale has always maintained strong ties to his ancestral Norway. Tesco also attracts criticism from those who think that more protection should be given to farmers and other small suppliers. history to lose statewide elections in all 50 states (having won only Minnesota in the 1984 election). Many small shopkeepers and various other bodies believe that the government is wrong to make this distinction and that Tesco should not be allowed to buy convenience store chains. Mondale set a political record of sorts as a result of this loss, becoming the only major party candidate in U.S. This means that Tesco is able to purchase convenience store chains despite its 30% plus share of the overall grocery market, because only its share of the convenience store market is taken into account, and that is less than 10%.

Mondale finished with 1,067,246 votes (47.34%) to Coleman's 1,116,697 (49.53%) out of 2,254,639 votes cast. Government policy is to treat supermarkets and convenience stores as two distinct sectors. Upon conceding the election, Mondale said, "At the end of what will be my last campaign, I want to say to Minnesota, you always treated me well, you always listened to me". When a company controls more than 25% of a business sector in the UK, it is usually blocked from buying other companies in that sector (but not from increasing its market share through organic growth). Mondale, at age 74, replaced Wellstone on the ballot, but narrowly lost the election to the conservative Republican opponent Norm Coleman. Another point of controversy is the recent expansion of Tesco into the convenience store market. 5 election. These campaigns have not hindered Tesco's expansion programme very much.

In 2002, Democratic US Senator Paul Wellstone of Minnesota, who was running for re-election, died in a plane crash just 11 days before the Nov. Tesco's other store openings and expansions are sometimes contested by energetic campaign groups, as are those of most if not all major retailers. Under the presidency of Bill Clinton, he was ambassador to Japan from 1993 to 1996, chaired a bipartisan group to study campaign finance reform, and was Clinton's representative in Indonesia in 1998. Tesco's 2004 Adminstore acquisition led to a number of local protests on issues such as congestion. From 1986 to 1993, Mondale was chairman of the National Democratic Institute for International Affairs. These points of controversy reflect differences in viewpoint on the healthy functioning of mass retailers in society. Following the election, Mondale returned again to private law practice, with Dorsey & Whitney in Minnesota in 1987. As the market leader in its sector, Tesco is an obvious target for people in the UK who disapprove of certain trends in contemporary mass-retailing, for example the increasing power which retailers have in their relationships with suppliers, especially small suppliers.

Mondale's defeat was the worst for any Democratic Party candidate in history, and the worst for any major-party candidate since Alf Landon's loss to Roosevelt in 1936. Like many leading companies, Tesco attracts some criticism. In the 1984 election, Mondale was defeated in a massive landslide, winning only the District of Columbia and his home state of Minnesota, thus securing only 13 electoral votes to Reagan's 525. In May 2005 it introduced a clothing website [5], but initially at least this serves solely as a showcase for Tesco's clothing brands, and customers still have to visit a store to buy. In 1986, Reagan did sign into law a bill that raised taxes for corporations, but at the same time cut taxes further for individual taxpayers. It does not currently sell clothing online. I just did." Although he intended this to demonstrate that he was honest while Reagan was hypocritical, it was widely remembered as simply a campaign pledge to raise taxes, and it hurt him in the end. The Tesco.com site is also used as a general portal to most of Tesco's products, including various non-food ranges (under the "Extra" banner), Tesco Personal Finance and the telecoms businesses, as well as extra services which it offers in partnership with specialist companies, such as flights and holidays, music downloads (as of June 2005 Tesco claims a 10% UK market share), gas, electricity and DVD rentals.

He won't tell you. In the financial year ending 26 February 2005 it recorded online sales up 24.1% to £719 million and profit up 51.8% to £36 million. Reagan will raise taxes, and so will I. Tesco delivers to over 1 million households, with more than 120,000 orders per week, by 1,000 local delivery vans. Mr. Tesco claims (in its 2005 annual report) to be able to serve 98% of the UK population from its 300 participating stores. When he made his acceptance speech at the Democratic Convention, Mondale said: "Let's tell the truth. This was in addition to, rather than instead of, ordering via web forms, but was withdrawn in 2000.

He spoke against what he considered to be unfairness in Reagan's economic policies and the need to reduce federal budget deficits. Concerned with poor web response times (at the time of its launch in 1996, broadband was virtually unknown in the UK), Tesco offered a CDROM-based offline ordering program which would connect only to download stock lists and send orders. Mondale ran a liberal campaign, supporting a nuclear freeze and the Equal Rights Amendment (ERA). GroceryWorks has stepped into the void left by the collapse of Webvan, but has not expanded as fast as initially expected. Ferraro of New York as his running mate, making her the first woman nominated for that position by a major party. In 2001 Tesco invested in GroceryWorks, a joint venture with Safeway in the United States, operating in the United States and Canada. Geraldine A. Nevertheless, it has been popular and is the largest online grocery service in the UK.

Rep. This model, in contrast to the warehouse model initially followed by UK competitor Sainsbury, and still followed by UK internet only supermarket Ocado, allowed rapid expansion with limited investment, but has been criticised by some customers for a high level of substitutions arising from variable stock levels in stores. He chose U.S. Grocery sales are available within delivery range of selected stores, goods being hand-picked within each store. After a brief return to the practice of law, Mondale won the Democratic presidential nomination in the 1984 election. Tesco operates on the internet in the UK, the Republic of Ireland and South Korea. presidential election, 1980.). Turnover is not reported separately.

presidential election, 1976, U.S. Wine is much cheaper in France than in the UK because the duty is far lower. (See U.S. Its existing single store in France is a wine warehouse in Calais, which opened in 1995 and is targeted at British day trippers. Bush. Note 2: Tesco owned a French chain called Catteau between 1992 and 1997. W. Note 1: The business in China is a joint venture and its turnover is not reported in Tesco's 2005 brokers' pack.

Reagan and George H. All the figures are for 31 December 2004 or the year to 31 December 2004, except for the Republic of Ireland data, which is at 26 February 2005, like the UK figures. Carter and Mondale were renominated at the 1980 Democratic National Convention, but lost to Ronald W. The following table shows the number of stores, total store size in square feet and sales for Tesco's international operations. He was the first vice president to reside at the official vice presidential residence, Number One Observatory Circle. In late 2004 the amount of floorspace Tesco operated outside the United Kingdom surpassed the amount it had in its home market for the first time, although the United Kingdom still accounted for more than 75% of group revenue due to lower sales per unit area outside the UK. Mondale was inaugurated as vice president on 20 January 1977. Tesco has responded to the need to be sensitive to local expectations in foreign countries by entering into joint ventures with local partners, such as Samsung Group in South Korea, and appointing a very high proportion of local personnel to management positions.

When Jimmy Carter won the Democratic nomination for president in 1976, he chose Mondale as his running mate. Many British retailers that have attempted to build an international business have failed. Many people came away from the experience with the belief that Mondale was on a witch-hunt. [4]. His ultimate goal was that this money should be directed into social services. In April 2005 it announced that it had over one million telecom accounts in total, including mobile, fixed line and broadband accounts. He attempted to show that NASA was dangerous and a waste of taxpayer money. Tesco announced in December 2004 that it has signed up 500,000 customers to its mobile service in the 12 months since launch.

Mondale gained public notice for his role in the Apollo 1 investigation. In August 2004 Tesco broadband, an ADSL-based service delivered via BT phone lines, was launched in partnership with NTL. Mondale was elected to the seat in 1966 and re-elected in 1972. Tesco Mobile currently offers only prepaid accounts. Humphrey II was elected vice president in 1964, Mondale was appointed to Humphrey's seat in the Senate. In autumn 2003 Tesco Mobile was launched as a joint venture with O2, and Tesco Home Phone created in partnership with Cable & Wireless. When Hubert H. It has not purchased or built a telecoms network, but instead has pursued a strategy of pairing its marketing strength with the expertise of existing telcos.

He spent two terms as attorney general. Though it launched its ISP service in 1998, the firm did not get serious about telecoms until 2003. Orville Freeman, who in return in 1960 appointed Mondale the state's attorney general. These are available to UK residential consumers and marketed via the Tesco website and through Tesco stores. He managed the re-election campaign of Gov. Tesco operates ISP, mobile phone and home phone businesses. He graduated with a law degree from the University of Minnesota Law School in 1956 and began to practice law in Minneapolis. The business made a profit of £202 million for the 52 weeks to 26 February 2005, of which Tesco's share was £101 million.

Army during the Korean War. They are promoted by leaflets in Tesco's stores and through its website. He then served two years at Fort Knox, in the U.S. The products on offer include credits cards, loans, mortgages, savings accounts and several types of insurance, including car, home, life and travel. Paul and the University of Minnesota, graduating in 1951. Tesco has a banking arm called Tesco Personal Finance, which is a 50:50 joint venture with the Royal Bank of Scotland. He was educated at Macalester College in St. [3].

His half-brother was the Unitarian minister Lester Mondale. At the end of its 2004/05 financial year Tesco's UK store portfolio was as follows. Mondale was born in Ceylon, Minnesota, the son of a Methodist minister. In May 2005 Tesco confirmed that it will be trialing a non-food only format [2]:. . Tesco's UK stores are divided into five formats, differentiated by size and the range of products sold. Reagan, who was reelected in a landslide when Mondale carried only his home state of Minnesota and the District of Columbia. Overall Tesco's success is probably based mainly on getting the basics of retailing right slightly more often than most of its rivals.

He was also a two-term US Senator from Minnesota and the Democratic Party nominee for president in 1984 against the incumbent, Republican Ronald W. Key reasons for this success include:. He was the 42nd US Vice President (1977-1981) under President Jimmy Carter. It did not accept this advice, yet by early 2005 it was the largest retailer in the United Kingdom, with a 29.0% share of the grocery market according to retail analysts TNS Superpanel, compared to the 16.8% share of Wal-Mart-owned ASDA and 15.6% share of third-placed Sainsbury's, which had been the market leader until it was overtaken by Tesco in 1995. Walter Frederick "Fritz" Mondale (born January 5, 1928 in Ceylon, Minnesota) is an American politician and member of the Democratic-Farmer-Labor Party. In the late 1970s Tesco's brand image was so negative that consultants advised the company to change the name of its stores. The disadvantage of this was that the stores had a poor image with middle-class customers.

Its initial success was based on the "Pile it high, sell it cheap" approach of the founder Jack Cohen. Tesco's growth over the last two or three decades has involved a transformation of its strategy and image. Group sales growth in the first quarter of 2005/06 was 14.6%. Tesco's market capitalisation on 15 April 2005 was £25.1 billion ($47.5 billion), which was the largest of any retailer based outside the United States.

Tesco plans to expand UK floorspace by 8% and non-UK floorspace by 20% in 2005/06. At 26 February 2005 Tesco operated 1,779 stores in the UK (24.2 million square feet, 2.23 million m²) and 586 outside the UK (27.6 million square feet, 2.54 million m²). Presumably it is ignoring Home Depot, which as a home improvement company is not in the same business, but is certainly a retailer. On its website Tesco claims to be the third-largest retailer in the world.

Metro and Royal Ahold are also larger than Tesco based on total turnover, but Metro's sales include many billions of wholesale turnover and Royal Ahold's many billions of foodservice turnover, and their retail turnovers are less than Tesco's. The three largest are Wal-Mart, Carrefour and Home Depot.
Tesco is between the fourth- and the sixth-largest retailer in the world, depending on how this is calculated. All figures below are for the Tesco's financial years, which run for 52 or 53 week periods to late February.

It also has a secondary listing on the Irish Stock Exchange with the name TESCO PLC. Tesco is listed on the London Stock Exchange under the symbol TSCO. In addition to opening its own stores, Tesco has expanded by taking over other chains, including:. In August 2004, it also launched a broadband service.

In October 2003 it launched a UK telecoms division, comprising of mobile and home phone services, to complement its existing internet service provider business. In July 2001 it became involved in internet grocery retailing in the USA when it obtained a 35% stake in GroceryWorks. During the 1990s it expanded into Central Europe, Ireland and East Asia. It introduced a loyalty card branded 'Clubcard' in 1995 and later an Internet shopping service.

It began selling petrol in 1974 and its annual turnover reached one billion pounds in 1979. Tesco's first "superstore" was opened in 1968 in Crawley, West Sussex. It is now a transport depot, with several other business units on the site. The factory has since been sold.

It has been said that it began own-label canning at the former Goldhanger Fruit Farms factory, sited a few miles from Maldon in the village of Tolleshunt Major, despite Goldhanger being another nearby village. The first Tesco supermarket was opened in 1956 in a converted cinema in Maldon, Essex. The first Tesco self-service store opened in 1948 in St Albans and is still trading in 2004. The firm was floated on the stock exchange in 1947.

The first Tesco store was opened in 1929 in Burnt Oak, Edgware, London. In the late 1990s, the typeface of the logo was changed to the current one shown on the top of the page with stripe reflections underneath the typefaces as Tesco used them on their carrier bags. Stockwell, he made new labels by using the first three letters of the supplier's name and the first two letters of his surname forming the word "TESCO". There appear to be two stories concerning the origin of the brand: one being that Tesco is an abbreviation of Jack Cohen's wife's name, Tessa Cohen, another that after Jack Cohen bought a large shipment of tea from T.E.

The Tesco brand first appeared in 1924. Tesco was founded by Jack Cohen, who sold groceries in the markets of the London East End from 1919. . Tesco also operates overseas, and non-UK sales for the year to 26 February 2005 were 20% of total sales.

Across all categories, over £1 in every £8 of UK retail sales is spent at Tesco. According to TNS Superpanel Tesco's share of the UK grocery market in the 12 weeks to 14 August 2005 was 30.5%. In the year ended 26 February 2005 Tesco made a pre-tax profit of £1.962 billion on turnover of £33.974 billion (the widely publicised headline profit of "over £2 billion" was "underlying profit" before certain accounting adjustments). Originally specialising in food, it has moved into areas such as clothes, consumer electronics, consumer financial services, internet service and consumer telecoms.

It is the largest British retailer, both by global sales and by domestic market share. Tesco PLC is a United Kingdom-based international supermarket chain. TNS Superpanel. Supermarkets in the United Kingdom.

Large units for non-food retailing are much more readily available. Tesco is trying this format because only 20% of its customers have access to a Tesco Extra, and the company is restricted in how many of its superstores it can convert into Extras and how quickly it can do so. The first two are expected to open in Aberdeen and Manchester in October 2005 in warehouse-style units in retail parks. Tesco Homeplus : These stores will offer Tesco's non-food format under one roof.

Typical size 1,300 square feet (120 m²). There are more than 500 of them. They were part of the T&S Stores business but, unlike many which have been converted to Tesco Express, these will keep their old name. These are the very smallest stores.

One Stop The only category which does not include the word Tesco in its name. There are 546 stores at 26 February 2005 year end, with a typical size of 2,000 square feet (190 m²). They are found in busy city centre districts and small shopping precincts in residential areas, and on petrol station forecourts. Tesco Express stores are neighbourhood convenience shops, stocking mainly food with an emphasis on higher-margin products (due to lack of economies of scale) alongside everyday essentials.

Typical size is 12,000 square feet (1,100 m²). They are mostly located in city centres and on the high streets of small towns. Tesco Metro stores are sized between normal Tesco stores and Tesco Express stores. The typical size is 31,000 square feet (2,900 m²).

Most are located in suburbs of cities or on the edges of large and medium-sized towns. It is the "standard" Tesco format, accounting for the majority of UK floorspace. They are referred to as "superstores" for convenience, but this word does not appear on the shops. Tesco stores are standard large supermarkets, stocking groceries plus a much smaller range of non-food goods than Extra.

is around 200,000 square feet (20,000 m²). As In June 2005 Tesco's largest UK store is in Newcastle and is 120,000 square feet (11,000 m²) a standard Wal-Mart Supercenter in the U.S. Typical size 66,000 square feet (6,100 m²). The number of these is now being increased by about 20 a year, mainly by conversions from the second category.

The first Extra opened in 1997 and the 100th in the 2004/05 financial year. Tesco Extra are larger, out-of-town hypermarkets that stock all of Tesco's product ranges. For example Tesco Financial Services and Tesco Express convenience stores both operate in several markets. Tesco rolls out successful UK initiatives in other countries.

The medium term aim is to have half of group sales outside the United Kingdom. It has focused mainly on developing markets with weak incumbent retailers in Central Europe and the Far East, rather than on mature markets such as Western Europe and the United States. "International" - Tesco began to expand internationally in 1994, and in the year ending February 2005 its international operations accounted for just over 20% of sales, or about £7 billion (approximately $13 billion). Other supermarkets in the United Kingdom have done some of the same things, but Tesco has generally implemented them more effectively, and thus made most profit.

It usually enters into joint ventures with major players in these sectors, contributing its customer base and brand strength to the partnership. "Retailing services" - Tesco has taken the lead in its sector in expanding into areas like personal finance (see below), telecoms (see below), and utilities. Tesco sells an expanding range of own-brand non-food products, including non-food Value and Finest ranges. By late 2004 it was widely regarded as a major competitive threat to traditional high street chains in many sectors, from clothing to consumer electronics to health and beauty to media products.

"Non-food business" - Many United Kingdom supermarket chains have attempted to diversify into other areas, but Tesco has been exceptionally successful. It has been innovative and energetic in finding ways to expand, such as making a large-scale move into the convenience-store sector, which the major supermarket chains have traditionally shunned. "Core UK business" - That is, grocery retailing in its home market. Diversification: The company has a four-pronged strategy:

    .

    It remains to be seen whether Tesco will be able to maintain this focus now that it is widely perceived as a great corporate success story and the dominant company in the United Kingdom retail market, or if it will succumb to corporate arrogance as sometimes happens to dominant companies. We deliver this through our values, 'No-one tries harder for customers', and 'Treat people how we like to be treated'". The underlying aim is of course to make higher profits, but there is a clear focus on customer service at the top level of the company. The company's mission statement reads, "Our core purpose is, 'To create value for customers to earn their lifetime loyalty'. Customer focus: Sir Terry Leahy, chief executive since the mid 1990s, has taken the bold step of trying not to focus on the usual corporate mantra of "maximising shareholder value".

    The company has taken the lead in overcoming customer reluctance to purchasing own brands, which are generally considered to be more profitable for a supermarket as it retains a higher portion of the overall profit than it does for branded products. One plank of this inclusivity has been Tesco's use of its own-brand products, including the upmarket "Finest" and low-price "Value" ranges. This strategy has been adandoned since losing the no.1 spot to Tesco and particularly since the arrival of Justin King as CEO in 2004 who has established a new customer-focused strategy closer to that of Tesco. During its long term dominance of the supermarket sector Sainsbury's retained an image as a high-priced middle class supermarket which considered itself to have such a wide lead on quality that it did not need to compete on price, and was indifferent to attracting lower-income customers into its stores.

    By contrast ASDA's marketing strategy is focused heavily on value for money, which can undermine its appeal to upmarket customers even though it actually sells a wide range of upmarket products. That is to appeal to all segments of the market" [1]. According to Citigroup retail analyst David McCarthy, "They've pulled off a trick that I'm not aware of any other retailer achieving. This phrase is used by Tesco to describe its aspiration to appeal to upper, medium and low income customers in the same stores.

    An "inclusive offer". Lotus in Thailand. A majority stake in Turkish supermarket chain Kipa in 2003. C Two-Network in Japan, 2003.

    T & S Stores, owner of the UK convenience store chains One Stop and Day & Nite, 2002. 13 HIT hypermarkets in Poland, 2002. Quinnsworth, Stewarts and Crazy Prices stores, Republic of Ireland and Northern Ireland from Associated British Foods, 1997. William Low, Scotland, 1994.

    Victor Value, England, 1968 (sold again in 1986).