Co-op announces major store investment initiative
Co-op is embarking on a £200 million investment programme which will see it open 100 new food stores during 2019 and provide major makeovers for a further 200.
The move follows last month’s announcement that the retailer had agreed terms for a new 661,000 sq.ft. distribution depot, located just off the A1 in Bedfordshire. The £45 million depot is intended to support its growth in and around the M25 belt and is expected to open in 2022, creating up to 1,200 jobs. Co-op also opened a new £6 million distribution centre last year at Inverness Airport Business Park (IABP).
“Shifts in consumer shopping trends has seen ease, speed and convenience continuing to rise in importance for time-pressed shoppers. The right location and range tailored to fulfil the shopping needs of a community is a cornerstone of our approach, and there has been an evolution in how we choose new locations and, innovate our offer,” says Stuart Hookins, Co-op’s Director of Portfolio and Development.
“This year will be the fourth consecutive year of opening around 100 new stores, and investing in a core convenience estate which has seen over four years of consecutive like-for-like sales growth.”
Gail Lyon has taken on the role of Head of Online at Co-op. She was previously Head of Digital Engagement and before that Group Social Media & Digital Engagement Lead.