Co-op Group targets 8 million members by 2030, despite a £240M profit drop & challenges.
Co-op Group aims to reach 8 million members by 2030 as it seeks to strengthen its mutual business model. The retailer reported a £240 million drop in pre-tax profit to £28 million in 2023, citing challenges such as food inflation, rainy weather, and high levels of shoplifting. Despite these challenges, the Co-op Group has successfully reduced its net debt from £322 million in 2022 to £82 million in 2023.
April 04, 2024
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