A Co-op logo is seen at a supermarket in Chiswell Green, Britain, May 28, 2020. REUTERS
Sept 23 (Reuters) – Britain’s Co-op Group posted a bigger first-half loss on Wednesday as spending on promotions and store improvements weighed on profitability.
One of Britain’s best-known retailers, Co-op has been working to recover from last year’s costly cyber attack, while weak consumer demand and intense competition in the grocery sector pressure performance amid the Iran war.
The member-owned retailer, which runs more than 2,500 food stores and provides funeral, insurance and legal services, posted a £45 million ($59.89 million) underlying operating loss for the six months ended July 4, compared with a £32 million loss a year earlier.
Reporting by Yamini Kalia in Bengaluru; Editing by Subhranshu Sahu
