The Co-op has unveiled ambitious plans to launch or extensively refurbish 50 stores across the UK in time for the crucial Christmas trading period. This significant expansion forms part of a wider £200 million investment commitment for the 2024-25 financial year, which will see over 200 new or upgraded stores nationwide.
A Nationwide Store Expansion Programme
The retailer's investment will fuel a mix of new openings, major refurbishments, and format innovations, targeting towns, cities, and rural communities from the Scottish Highlands to the south coast of England. Among the flagship new sites is the Co-op's first permanent store at the new Brent Cross Town development in London.
The expansion also includes the rollout of five micro-format 'On The Go' convenience stores and a new franchise location at Lancaster University. The Lancaster outlet will bring the total number of Co-op campus stores across the country to 11. The most northerly new or revamped store will open in the Scottish Highlands village of Brora, while the most southerly will be based across Devon and Cornwall.
Investment Hinges on Business Rates Reform
Co-op group chief executive Shirine Khoury-Haq emphasised the retailer's commitment to local communities and the future of the high street. However, she issued a stark warning that long-term investment depends on the Government following through on long-promised business rates reform in the upcoming autumn Budget.
"We're investing in stores and communities right across the UK because we believe in the future of the high street," she stated. "But sustained growth needs certainty. Business-rates reform is vital if retailers - especially the 99% who run small stores - are to plan with confidence, protect jobs and keep local economies thriving."
She added that the Government now has a critical opportunity to deliver the reform that has been long-awaited by the retail sector. The Co-op argues that reforming business rates would provide the confidence needed for further sector-wide investment and job creation across the UK.
Recovery and Innovation Post-Cyberattack
This expansion drive comes as the member-owned retailer, which has approximately 6.9 million member-owners, continues its recovery from a significant cyberattack it suffered in April. The breach, which involved hackers impersonating staff to gain access to internal systems, disrupted operations and led to an estimated £120 million hit to annual earnings. The incident also affected sales by around £206 million.
Despite this setback, the Co-op is pushing forward with its store programme, which includes both completely new locations and extensive refurbishments of existing sites. Many of the existing stores have been closed to allow for significant upgrades. The updated store designs will feature new product ranges and layouts specifically aimed at improving the overall shopping experience for customers.
The full list of Co-op stores scheduled to open or be refurbished before Christmas includes locations such as Axminster in Devon, a new 'On-the-go' concept store in Aylesbury, Blaenavon in Wales, and sites in Bristol, the Scottish Highlands, Yorkshire, and many more communities across the nation.