Co-op is set to revolutionize its retail presence with a substantial investment exceeding £200 million aimed at launching over 200 new or transformed stores by the end of 2024/25.
In November and December, the company will unveil a mix of brand-new locations and revamps of existing sites following significant upgrades. Each store will feature member price savings alongside parcel collection services. Additionally, customers will enjoy rapid delivery options through Co-op’s online shop and partnerships with delivery services such as Just Eat, Deliveroo, and Uber Eats.
Notably, these new openings include Co-op becoming the inaugural permanent retailer at the upcoming Brent Cross Town development in London. Furthermore, the company is introducing five new micro-format ‘on-the-go’ stores and a franchise location on the Lancaster University campus, bringing the total number of university campus Co-op franchise stores to 11.
In tandem with its expansion plans, Co-op urges the UK Government to “finish the job” on business-rates reform. This initiative is critical for securing the long-term viability of small shops and community-focused retail. The organization emphasizes that confidence in sustained investment within the sector hinges on the government delivering on promised reforms.
Establishing certainty regarding business rates is essential for enabling continued investment and unlocking further growth opportunities across the retail landscape.
Co-op Group CEO Shirine Khoury-Haq stated: “We’re investing in stores and communities right across the UK because we believe in the future of the high street. 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 further emphasized that “Co-op is showing what’s possible when businesses commit to communities. The Government now has an opportunity in the Autumn Budget to do its part by delivering the reform that’s long been promised – giving every retailer, from small to large, the stability to invest and grow.”
Earlier this year, Co-op reported an £80 million decline in operating profits due to a cyberattack that hit the business in April. In contrast, supermarket chain Aldi recently disclosed plans to open 16 new stores just in time for Christmas, showcasing its own growth strategy amid the competitive retail environment.
