Co-op news

07 October 2014
At the IGD Convention, The Co-operative Group CEO Richard Pennycook gave an inspirational speech around the process of recovery at The Co-operative. A year of crisis for the Co-operative Richard talked through the events of The Co-operative's challenging year, noting the issues surrounding the finances, the controversy over revelations surrounding the previous chairman and the loss of a ch...
30 September 2014
The Co-operative has agreed a deal to open 63 new convenience stores on existing or former Marstons pub sites.  Building on a deal done in April This deal was originally done in April of this year when the retailer agreed to lease 54 pubs from the property investor NewRiver Retail. The increase in the number of stores signifies the importance The Co-operative is placing on its convenien...
04 September 2014
The UK's leading consumer co-operative, The Co-operative Group has announced its interim results for the 26 weeks to 5 July, showing overall sales falling to £5.1bn.  This reflects the disposal of a number of businesses to underpin future sustainability of the organisation.  Following the the approval of governance reforms, Richard Pennycook, previously interim Group Chief Executive, has now been...
02 September 2014
As part of its 'Fair & Square' pricing pledge, The Co-operative Food has announced it is lowering the prices on additional products. The next phase of 'Fair & Square' pricing The Co-operative launched its 'Fair and Square' pricing pledge across its 2,800 stores in April this year focusing on essential items such as bread, milk, chicken and bacon. These new reductions will see prices perma...
27 August 2014
"No battle plan survives contact with the enemy" according to a German strategist called Helmuth von Moltke. In other words, it’s impossible to prepare for all eventualities and even the best laid plans are disrupted by unpredicted events. Every consumer goods company experiences disruption. It could be an unexpected loss or gain of a big customer contract, a sudden change in the cost of a ma...
14 August 2014
As summer draws to a close we summarise recent moves at leading UK retailers in what is proving to be a turbulent year for board rooms. New leadership at Tesco Dave Lewis was appointed as the next CEO of Tesco last month, succeeding Philip Clarke who has led the business for the last three years and whose career at Tesco has spanned 40 years. Lewis will join Tesco from Unilever in October...
04 August 2014
The Co-operative has announced the sale of its Farming business to the Wellcome Trust for £249m. Following through swiftly on restructuring plans The sale marks the latest stage of the Co-operative's restructuring plans as it looks to focus on its Retail and Consumer Services divisions and divest non-core businesses. Just two weeks ago the group revealed it was selling The Co-operative Pha...
29 July 2014
The latest 12 week market share data from Kantar Worldpanel, for the period to 20 July 2014, shows that GB grocery retail growth remains sluggish.  The Total Grocers measure is up just 0.9% year-on-year, the slowest rate of uplift seen in a decade.  A focus on price-cutting amongst the major retailers, responding to the discount challenge, is helping to keep inflation low and the Kantar measure of...
18 July 2014
The Co-operative group has announced it is selling its pharmacy chain to Bestway, the cash & carry group for £620m with the transaction due to complete in October 2014 after The Co-operative has taken the relevant steps to separate the pharmacy from its core business. First major move into retail operations for Bestway The purchase of these 774 pharmacies represents a significant diversific...
16 July 2014
As reported in the Weekend Telegraph, the Co-operative Group is deploying mobile pop-up stores to keep its locations trading, in order to offset the impact of temporary closures as it embarks on its extensive programme of store refurbishment.  Converting stores to its 'Second Generation' convenience format can require closing units for up to two weeks, so mobile kiosks with a core range of 120 li...