The Co-op has announced a significant expansion of its UK retail presence, confirming plans to open or extensively refurbish 50 stores by Christmas. This ambitious move forms part of a wider £200 million investment programme into its store estate during the current financial year.
A Bold Expansion Amid Recovery
This substantial investment comes as the Co-op continues its recovery from a debilitating cyber attack in April. The incident, which saw hackers impersonate staff to access accounts, reduced earnings by approximately £120 million and impacted sales by around £206 million. Despite this significant financial setback, the retailer is pushing forward with its growth strategy, demonstrating a strong commitment to the UK high street.
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."
New Stores and Major Refurbishments
The Christmas rollout includes a diverse mix of new formats and upgrades. Shoppers can expect 14 brand new stores, alongside five micro-format 'on-the-go' outlets designed for convenience in busy urban areas. A new franchise store will also open at Lancaster University.
The remainder of the 50 locations will be long-standing stores receiving major refurbishments. These upgraded outlets will feature contemporary layouts, refreshed product ranges, and an overall more modern shopping experience.
Confirmed locations for the expansion include:
- Brent Cross Town, London (the first permanent retailer at the development)
- Lancaster University (franchise store)
- Micro-format stores in Solihull, Kingston, Aylesbury, Leamington, and Altrincham
- Brora in the Scottish Highlands (the most northern site)
- Devon and Cornwall (the most southern sites, with exact locations to be confirmed)
Call for Business Rates Reform
Alongside its expansion announcement, the Co-op is using this period of investment to call on the Government for business rates reform. CEO Shirine Khoury-Haq has emphasised the need for certainty, particularly for smaller retailers who form the backbone of the UK's retail landscape.
"Sustained growth needs certainty," Khoury-Haq said. "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."
This call for tax reform highlights the challenging environment in which this significant investment is being made, underscoring the Co-op's commitment to both its own future and that of the wider retail sector.
