Expanding Across UK with 1,600 Jobs Created
- Co-op plans to open 100 new food stores in 2018
- £160m investment programme for community retailer
- Creating 1,600 jobs across the UK
- More than 20 new stores planned for London
- 18 stores planned for Scotland
- New stores in Wales, Blackpool, Bristol, Chesterfield, Crewe, Manchester, Nottingham, Plymouth and Southampton
- Co-op to become exclusive wholesale supplier to Costcutter Supermarkets Group network from spring 2018
- Nisa Retail members voted in favour of Co-op’s acquisition offer
- Conditional on Competition and Markets Authority approval
- Jo Whitfield: ‘Co-op is positively responding to changes in the retail market’
- Stuart Hookins: ‘Expansion plans for 2018 keep Co-op on track to open at least 100 new stores each year’
- Over one million new active members joined in the last year
The Co-op has announced plans to open 100 new food stores across the UK in 2018 as part of a £160m investment programme. This includes new stores and major refurbishments for an additional 150 outlets. The company aims to create 1,600 jobs through this expansion. Over 20 new stores are set for London, while up to 18 will be in Scotland, including locations in Glasgow, Edinburgh, Forres, and Kilmacolm. Rhayader and Bryncoch will be the first of ten new stores opening in Wales. The Co-op also plans to open new stores in Blackpool, Bristol, Chesterfield, Crewe, Manchester, Nottingham, Plymouth, Southampton, and York, among other towns and cities. This announcement follows two recent developments: the group’s agreement to become the exclusive wholesale supplier for the 2,200 Costcutter Supermarkets Group network from spring 2018 and Nisa Retail members voting in favor of Co-op’s acquisition offer. The plans are subject to Competition and Markets Authority approval. Jo Whitfield, chief executive of Co-op Food, said, ‘The Co-op is positively responding to the changes occurring within this dynamic sector.’ Stuart Hookins, Co-op’s director of portfolio and development, added, ‘Our expansion plans for 2018 keep us on track to have opened at least 100 new stores in each of three consecutive years.’ With over one million new active members joining in the last year, the company is looking for more locations to serve its customers better.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Co-op’s plans to open 100 new food stores across the UK, creating jobs and investing £160m in refurbishment for 150 other outlets. It also mentions specific locations and quotes from key figures in the company. The information is relevant, objective, and well-structured.
Noise Level: 2
Noise Justification: The article provides relevant information about The Co-op’s plans to open new food stores across the UK and create jobs as part of a £160m investment programme. It also mentions the company’s ambition for growth and expansion in response to changes within the retail market. However, it lacks analysis or exploration of long-term trends or consequences of these decisions on those who bear the risks. The article does not contain scientific rigor or intellectual honesty but stays on topic and supports its claims with specific locations and numbers.
Financial Relevance: Yes
Financial Markets Impacted: The announcement impacts the retail sector, specifically food stores and wholesale supply chains.
Financial Rating Justification: This article discusses Co-op’s plans to open new food stores and refurbish existing ones, which can impact the financial performance of related companies in the retail industry. Additionally, the agreement with Costcutter Supermarkets Group as an exclusive wholesale supplier may affect their supply chain and business operations.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
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