Analysis: Can a new strategy transform the Co-op’s flagging fortunes?
With inflation still on the rise, the UK economy in freefall and customer confidence at an all-time low, the Co-op has unveiled a new strategy. Will it be enough to stop the rot at the c-store specialist?
It’s fair to say that 2022 has been a year of transition for the Co-op. Once a perennial outperformer driven by the success of its core food business, the mutual has fallen on tougher times during the past 12 months.
Supply chain snarl-ups and patchy availability have combined with rampant inflation, head-office job cuts and the exits of group chief executive Steve Murrells and food boss Jo Whitfield to leave the Co-op shaking rather than stable.
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