Co-op's Festive Boost for UK High Streets
The Co-op has announced a significant expansion plan, confirming it will open 50 new or renovated stores across the UK in time for the crucial Christmas trading period. This move forms part of the grocer's continued commitment to the British high street, which has faced significant challenges in recent years.
Investment and New Store Locations
The ambitious rollout will see stores opening throughout November and December. Notable locations include a new store at the Brent Cross Town development in London, five smaller format stores designed for convenience, and a franchised outlet on the campus of Lancaster University. This expansion is a key component of a broader £200 million investment programme scheduled for 2024/25, which will ultimately see around 200 new and transformed store locations.
CEO Calls for Business Rates Reform
Co-op Group CEO, Shirine Khoury-Haq, stated that the investment demonstrates the company's belief in the future of the high street. However, she used the announcement to call for government action, emphasising that business rates reform is vital. She urged the Government to address this in the upcoming Autumn Budget to provide retailers, particularly small stores, with the certainty needed to plan, protect jobs, and support local economies.
Khoury-Haq added, "Co-op is showing what’s possible when businesses commit to communities. The Government now has an opportunity... to do its part by delivering the reform that’s long been promised."
Combining Expansion with Food Waste Initiative
The store expansion news coincides with the launch of Co-op's 'Too Good to Waste' initiative for its members. This scheme offers a 50% price reduction on all unpackaged, loose in-store bakery items every evening after 6pm. A Co-op buyer, Charlotte Waring, explained that the initiative helps members save money while simultaneously tackling the issue of food waste.
This dual strategy of physical expansion and value-driven customer offers positions Co-op for a strong end to the year, reinforcing its presence in communities across the United Kingdom.
