Retailers/Co-op/News

Co-op news

18 October 2016
Data released by Kantar Worldpanel for the 12 weeks to 9 October, shows that growth in the GB grocery retail market has accelerated slightly, moving ahead to +0.8%, up from just 0.3% in last reported period to September.  Improving performance is linked partly to easing negative inflation, which slowed to -0.8% from -1.1% in the September data. 12 weeks to 11 October 2015...
23 September 2016
Announcing its interim results for the 26 weeks ended 2 July 2016, the Co-operative Group has reported like-for-like sales growth in its food business of +3.1%.  Total food retail sales for the period were level with 2015, and as planned, profit  was down by 28%; reflecting the extensive ongoing investment in the Group's 'Rebuild' programme, which includes pay increases for frontline colleag...
22 September 2016
The Co-operative Group has announced the details of the long-awaited re-launch of its loyalty benefits scheme, with the existing programme having been suspended while the business has been in stabilisation and turnaround mode.  All existing and new members can benefit from the new rewards offer as of 21 September.  As before anyone can become a member of the society on the payment of a £1 joining...
20 September 2016
The latest data release from Kantar Worldpanel reveals that the GB market achieved slight growth in the 12 weeks to September 11th, in line with the previous period.  This was despite deflation of -1.1%, the 26th consecutive period that inflation has been negative.  The period benefited from an 8.5% surge in alcohol sales over the last four weeks as many retailers ran promotional events to tap int...
23 August 2016
Kantar Worldpanel data, covering the 12 weeks to 14 August, indicates that growth in the GB grocery retail market strengthened again in this period.  Boosted by some long-awaited better summer weather, the market was up by a relatively buoyant +0.3%; though this is still very low by historical standards.  The pricing environment remains solidly deflationary, with Kantar measuring inflation at -1....
21 July 2016
KPMG the administrators for the failed My Local convenience chain have revealed that they have sold 26 of the 125 stores so far with more deals expected in the weeks ahead. Demand for quality retail space Finding continued growth within the convenience channel is becoming harder with the rate of new store openings falling. This is due to difficulty in finding prime retail space as the ...
13 July 2016
National neighbourhood convenience retailer, McColl's has announced that it is to purchase 298 stores from the Co-operative Group at a price of £117m.  The acquisition will provide a substantial scale boost for the McColl's convenience store estate, pushing its numbers passed 1,200, within a wider portfolio of over 1,300 stores.  With the annual sales of the acquired stores reported at £354m for ...
06 July 2016
Following My Local entering administration and the closure of 90 stores the Co-op has stepped up and purchased six stores for an undisclosed sum.  Coop targets 100 new stores The stores from My Local located in Croydon, Nottingham, Widnes, Blackpool, Stockport and Steeton will help towards the Manchester based mutual's target of 100 new stores as explained by Coop chief executive of re...
30 June 2016
My Local closes 90 stores as it enters administration KPMG has taken over the running of My Local as it places the former Morrisons convenience chain into administration. This has already resulted in 90 stores closing over the weekend, with discounts on stock of up to 70%, and over 1,000 jobs being lost. Buyers sought for sites Finding buyers for the sites could be tricky as their ...
28 June 2016
As Britain continues to digest the fallout from the EU referendum, new figures from Kantar Worldpanel show the grocery market shrinking in size for the first time since January. Sales growth fell to -0.2% from +0.1% last month as volume growth decreased. Deflation was marginally softer at -1.4%, from -1.5% last month. 12 weeks to 21 June 2015 (% share) 12 weeks to 19 Ju...