Co-op profits hammered as challenges not expected to abate in second half CO-OP Co-op profits have taken a dent in the first half of this year, with bosses describing a “highly challenging economic backdrop.” The retailer posted underlying EBITDA of £218m, with earnings subdued compared to the year prior when Co-op posted £248m for the first half of 2021. With arms spanning grocery, funeral, insurance and legal businesses, Co-op’s [...]
Fuel be surprised: Co-op sells petrol business to rival Asda for £600m ASDA PRICE The Co-operative Group (Co-op) has announced it will sell the company's petrol forecourt business to Asda in a £600m deal.
Co-op appoints Shirine Khoury-Haq as first female chief in 159 years LEADERSHIP CHANGE The Co-op has appointed its former chief financial officer and interim boss Shirine Khoury-Haq as group CEO. The group’s former boss Steve Murrells, stepped down in May following the company’s annual general meeting. Murrells took the reins of the supermarket as CEO in March 2017, following a five year stint heading the company’s food business. [...]
30-min weekly shop: Uber Eats and Co-op team up for rapid delivery service August 23, 2022 Co-op and Uber Eats are partnering up for a speedy service as the grocery sector’s battle for convicent delivery hots up. On the Uber Eats app, shoppers can order more than 6,000 products from around 1,000 Co-op food stores. Groceries are to be delivered in as little as 30 minutes, the firms said on Tuesday [...]
Co-operative Bank posts profitability for fifth quarter in a row May 5, 2022 The Co-operative Bank has achieved profitability for its fifth quarter in a row, after posting pre-tax profits of £30.5m. The Manchester headquartered bank said its profits had increased for the fourth consecutive quarter, as its earnings were bolstered by its mortgage business. The bank said its net income had increased 36 per cent year-on-year [...]
Co-op profit hammered by supply chain disruption as chair warns of ‘stark headwinds’ April 7, 2022 The Co-operative Group’s profit has taken a battering after “significant supply chain disruption” last year, as the grocer pledges to support customers amid a cost of living crunch. The supermarket reported profit before tax of £57m for 2021, down £70m on the year before when it pocketed £127m. The Manchester-based grocer did mark higher profit [...]
Co-op launches guide to help managers support women going through the menopause April 3, 2022 The Co-op is launching a guide to help its 4,500 managers help women access support dealing with the menopause. The grocer said its own internal research had found that more than half of managers in the UK do not feel confident in supporting a colleague dealing with perimenopause or menopause. A survey of 2,000 adults [...]
Co-op food names two top managers to cover chief executive’s family-orientated career break March 31, 2022 Two new co-managing directors have been appointed to the Co-Op’s food business, while its chief executive takes a career break to support her childrens’ education. The mutual’s current chief operating officer and chief commercial officer, Chris Whitfield and Matt Hood, are set to assume a joint role while Jo Whitfield takes four months off, from [...]
Co-op heralds first female CEO as Steve Murrells steps down March 25, 2022 Co-op Group CEO Steve Murrells is to step down, paving the way for the supermarket’s first female boss. Shirine Khoury-Haq, who currently holds the role of group CFO and CEO of Co-op Life Services, will become interim CEO this spring. Exiting boss Murrells will step down after the supermarket’s AGM in May and said the [...]
Chief exec of Co-op Food to take months off role to ‘spend more time’ with sons during exams February 9, 2022 The boss of Co-op’s convenience food business is to temporarily step away from her role to help her sons through their exams. Jo Whitfield, the chief executive of Co-op Food, will take time off for four months from May. Day-to-day responsibilities will be taken on by group CEO Steve Murrells. Co-op Food includes the operation [...]