Co-op has announced its revenue was up 7.6% to £5.8bn in the 26 weeks to 4 July, driven by exceptional performances in its food and wholesale divisions.
Revenue in food rose 5.2% to £3.9bn as consumers shopped closer to home and ate out less frequently during lockdown.
Like for like sales were up 8.8%, excluding fuel, representing the seventh year of like for like growth.
Market share increased 0.5 percentage points to 7.1%, peaking in the 12 weeks prior to 14 June.
Nisa wholesale revenues increased 13.9% to £801m, benefitting from local shopping in lockdown and range improvements under the Co-op’s ownership.
Allan Leighton, Independent Non-Executive Chair of the Co-op, said: “Our nation is experiencing a year like no other and I think it’s safe to say that things will never be quite the same again. The pandemic has led to a health and economic crisis, but it has also highlighted deep seated unfairness and inequalities across the world and surfaced a growing public intolerance for injustice. How we ‘build back better’ to create a fairer and kinder world has become central to public debate. As the UK’s biggest co-operatively owned business, we intend to be central to that conversation, showing how commerce and community wellbeing must develop in harmony for the good of us all.
“During the first half of 2020 we have shown that commerciality and co-operability can thrive and feed off one another, when both are given the same level of focus and importance. The Co-op is a different kind of business, but one whose enduring value can best be evidenced during times of need and hardship. In the difficult times ahead, we will ensure that our Co-op continues to make the world a fairer place to live in.”
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