C-store specialist the Co-op has spoken recently of the need to make its business more efficient and cost-effective in the short term in light of spiralling costs.
At its full-year results in April, the first signs of strain emerged. Pre-tax profits were down £70m to just £53m, while group revenues edged down to £11.2bn.
The group also warned of further headwinds, citing “the final implementation of the business transformation in food, current inflationary pressures and the economic uncertainty facing customers, members and colleagues”.
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