Co-op bites back at shoplifters with GPS tracking on meat April 1, 2021 The Co-op has begun attaching GPS tracking tags on meat products in a trial to bite back at shoplifters this week. Clear plastic boxes with the tracking tech built-in have been put around meat products in stores across the UK. What triggered Co-op to place GPS tracking on their items is unknown, but it is [...]
Co-op hands furlough cash back to government as profit doubles April 8, 2021 Co-op has announced it will repay furlough money received during the pandemic as the convenience store chain announced profit more than doubled last year. The firm will hand £15.5m back to the government it said this morning as it revealed that profit after tax and discontinued items was £77m, up from £33m in 2019, on [...]
Co-op bank reports ‘resilient’ performance in first few months of 2021 April 28, 2021 Co-op Bank reported a small underlying profit in the first three months of 2021 of £2.6m, with statutory profit before tax of £7.2m. CEO Nick Slape said the bank had delivered a “resilient” three-month performance, that should position it well to deliver overall profit in 2021. “We have delivered a resilient performance by maintaining our [...]
Co-op to axe team manager roles in shake-up affecting 2,000 jobs April 22, 2021 Convenience store chain Co-op has announced plans to overhaul its worker structure, in a move that is expected to impact around 2,000 staff members. The retailer will reportedly axe the team manager role across most of its sites, although no compulsory redundancies are expected to be made. Instead, Co-op will offer those affected by the [...]
Attacks on retail shop workers to become separate criminal offence April 10, 2024 Assaulting a shop worker will become a separate criminal offence in England and Wales following a recent wave in retail crime.
Co-op Group under pressure to repay £80m of government funding March 4, 2021 The Co-op board will reportedly meet next week to discuss handing back millions in government cash it was handed during the pandemic. The move would follow in the footsteps of leading supermarkets who returned business rates relief at the end of last year and have pledged to forgo the break announced in the Budget. The [...]
Natwest gets slap on the wrist after flouting customer service rules August 15, 2023 Natwest and the Co-Operative Bank have been given a slap on the wrist by the competition watchdog today after potentially misleading customers over the quality of service they were receiving. In letters to the two banks today, the Competition and Markets Authority said Natwest and Co-Op Bank had both breached part three of the Retail [...]
Asda slashes debt as value range sales surge November 15, 2023 Asda has reduced its debt pile from £4.2bn to £3.9bn, according to its third quarter results, thanks to “strong cash generation” at the UK supermarket. The ‘Big Four’ grocer, said that during the term like-for-like sales, excluding fuel, increased by 2.8 per cent to £5.4bn compared to the same period last year. Food like-for-like sales [...]
Nisa sales rise after Just Eat launches home delivery service June 27, 2024 Groceries wholesaler Nisa Retail has seen its revenue tick up after its parent company The Co-operative Group partnered with Just Eat to offer home delivery.
The Co-operative Bank to slash 400 jobs in cost-cutting drive March 26, 2024 The Co-operative Bank has announced that it plans to cut around 400 jobs as the lender looks to reduce costs.