The Co-op is to invest £70 million into a growth project that will see hundreds of new jobs being created in the UK in the new year.
The company will be opening 100 stores for the project, with many of them being located in London and the South East. There will also be new stores in Swansea, Sheffield, Kings Bromley in Staffordshire, and Beverley in Yorkshire.
The expansion comes after the Co-op revealed that it had already opened 100 stores in 2016. According to a report from Kantar Worldpanel, the consumer co-operative has seen a growth of 2 per cent in its sales in the 12 weeks leading up to 4th December.
According to the company, the recent success is a result of the launch of schemes such as the 5&1 scheme, which was launched in September and is used by over half a million people. The scheme gives members the opportunity to receive a 5 per cent reward when they purchase the Co-op’s products and services.
The new stores are expected to create 1,500 new jobs throughout the UK, and five of the London-based stores will be opened before the end of March 2017.
Commenting on the company’s future growth plans, Co-op Property Portfolio and Development Director Stuart Hookins said: “Whilst other retailers are scaling back their expansion plans, the Co-op continues to open new convenience stores and we plan to open hundreds more new stores over the next few years.”
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