Co-operative Food News Update: Food Brand Gets Overhaul
News Updates from Co-operative Food
Co-operative Food News Update: Food brand gets overhaul The Telegraph reported recently as Co-operative Food tries to get retail business back on track.
Own brand ranges are now the main battlefields for battles being waged in the war of the supermarkets. Recently, food giants Sainsbury and Tesco went head to head in a battle over the pricing and the quality of their own brand ranges. Co-operative Food, it has been reported, are now set to rename their own brand range ‘loved by us.’ The Co-op promise that there will be as many as seven hundred new lines being launched in the run up to the crucial Christmas trading period and the first of the new ranges are due to be on the shelves this month. Although they are the fifth largest food sellers in the country Co-operative Food have been under pressure from the emergence of the lower priced discount supermarkets like Lidl and Aldi and have also been coping with the evolving of larger supermarket chains into smaller convenience store shops that have been springing up on the high street.
Data produced recently for the major grocery marketing industry however, does not make very happy reading as it shows that Co-operative Food is losing its market share and is, in fact, performing worst when compared to the other major food retailers. The very latest figures however do show an improvement for the Co-op with signs of a recovery and growth of over six per cent in the four weeks leading up to the announcement of the figures. This put them ahead of Morrison, Asda and Tesco. The problems being experienced in the banking arm of the Co-operative orgnaisation have been partly responsible for keeping the food division in the doldrums although now that a new management team has been brought in it is thought that this will give sales and the future of the food division a real boost.
Co-operative Food News Updates
Industry insiders have cited the Co-op own brand as one of the biggest problems standing in the way of profitability. It is true that the Co-op has struggled to keep pace with rival supermarkets own brands such as those offered by Sainsbury’s, Asda, Tesco and Morrison’s who have invested heavily in their own brand ranges to drive forward the growth of sales in that area. It is hoped that Euan Sutherland who is the group’s chief executive and Richard Pennycook who is the finance director will be able to turn things around for the high street grocer.
4,561 total views, 1 views today