The Co-op Needs To Tread Carefully In A Competitive Marketplace: Analyst
UK retailer The Co-operative needs to ensure it doesn't overstretch itself in an increasingly competitive environment, a leading analyst has warned.
Commenting on the group's full-year performance, in which the business posted a pre-tax profit for the year of £72 million, Thomas Brereton, retail analyst at GlobalData said that while the retailer should be pleased with its performance, the market conditions mean that it cannot rest on its laurels.
"The retailer’s £7.1 billion food division – which accounts for three-quarters of the Group’s activity – showed slight negative growth despite a 3.4% hike in like-for-like sales," he said. "This was largely a result of the division’s ongoing store strategy, closing larger stores to focus on consumer convenience."
Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.
A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!