Co-op sees encouraging signs at H1 point
UK convenience retailer Co-op reported H1 sales up 2.4% YoY, with Food revenue rising 2.6% to GBP3.70 billion despite weak consumer confidence. Quick-commerce sales grew 24%, while convenience market share reached 13.0%. Co-op opened or refurbished 42 food outlets and active membership increased 11% to 7.5 million. Net debt excluding leases fell to GBP239 million, while management expects stronger H2 sales and profitability. (Co-op)
