Co-op to open 100 new food stores in 2018
The retailer will invest over £160 million in new stores and major makeovers for a further 150 shops.
While more than 20 new stores will open in London, up to 18 stores are planned for Scotland and ten in Wales. Other places set to see the arrival of new shops include Blackpool, Bristol, Chesterfield, Crewe, Leicester, Manchester, Nottingham, Plymouth, Southampton and York.
Stuart Hookins, Co-op’s director of portfolio and development, said: “The Co-op’s extensive acquisitions and refit programme is a fundamental part of our food strategy. Moving forward with a clear purpose and momentum, our expansion plans for 2018 will mean that the Co-op is on track to have opened at least 100 new stores in each of three consecutive years.”
The news follows the announcement last month that the Co-op has reached an agreement to become the exclusive wholesale supplier to the 2,200 stores across the Costcutter Supermarkets Group network from spring 2018. In addition, members of Nisa Retail have voted in favour of the Co-op’s offer to buy the delivered wholesale and convenience retail specialist, a move which is conditional on Competition and Markets Authority approval.
Jo Whitfield, chief executive of Co-op Food, said: “The Co-op is positively responding to the changes occurring within this dynamic sector. Our food business is going from strength to strength in what is clearly a challenging retail market. We have the ambition for our stores to be at the heart of local life, bringing communities together and offering our members and customers great quality products when and where they need them.”
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