LONDON—Tesco is set to just overtake Carrefour in the global turnover rankings within the next four years, making it the world’s second largest retailer after Wal-Mart, according to IGD’s latest report, "Global Retailing: Preparing for Change."
The report predicts that Tesco will grow at a faster pace than French retailer Carrefour, with forecasts suggesting a compound annual growth rate of 11 percent for Tesco, compared with 7 percent for Carrefour between 2007 and 2012.
Tesco is expected to achieve a turnover of $157.1 billion by 2012, and the retailer’s international expansion in markets such as China, the United States and India will play a significant part.
