Co-op on track for store openings
One of the big five UK supermarkets has revealed it is on target to open 80 stores this year.
The Co-operative Group has announced that an investment of £260m to open 80 new food retailing stores is going to plan.
According to the supermarket chain, the investment is helping to “ramp up” its activity and, on average, more than two food stores each week will have opened before the end of the year. Already the retailer has managed to open 49 other stores as part of its ongoing acquisition strategy.
The start of this year also saw The Co-operative acquire the Scottish convenience retailer David Sands and its 28 food outlets located in Fife, Kinross and Perthshire. which are also being rebranded.
Head of portfolio strategy, acquisitions and disposals Stuart Hookins said: “It has been another very busy year for us and our continued activity in the market place highlights our ambitions to expand our food store estate.
“We are focused on the convenience sector and are on target to launch 83 food stores this year, following the massive capital investment of more than £260m. With even more acquisitions in the pipeline, we are in a very strong position, putting us at the forefront of the convenience market.”
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