In the Co-op Group’s interim results for the six months to 4 July 2026, its Wholesale and Franchise division reported revenue of £683m, the same as the first six months of 2025.
The results highlighted the “long-term” reset for the division which included updated Nisa branding being rolled out to 25 stores over the six months with 100 planned for the year.
The wholesale and franchise wing also opened 164 new stores and secured new business agreements worth an additional £142m of total contract value year-to-date, citing a pipeline of £280m to year-end. It also reported “continued strong growth of 26% in the Group’s franchising business with 11 openings”.
The Co-op Group overall saw a 2.4% year-on-year rise in revenue, and highlighted the cyber attack and continued weak consumer confidence. It reported underlying operating losses of £45m for the period, compared to a loss of £32m in the same period in 2025.
Interim chief executive, Kate Allum, said: “2026 is looking like a year of two halves for our Co-op. The first half was characterised by difficult markets and low consumer confidence, especially for Food Retail. Against those conditions, we made decisions to drive trade – investing in promotions and investing in our stores – while also mitigating rising costs. These things have had a short-term impact on profitability.
“Speaking now in the second half, we’re seeing bigger baskets and more transactions. Conditions remain challenging, but we see reasons for confidence across our portfolio, having delivered strong growth in areas such as online convenience shopping and funerals. We expect to see a stronger performance in the second half than the first, with sales growth and improvements in profitability.
“Our immediate goal is to establish the firm foundations we need to realise greater growth in the years ahead – something we’re gearing up for as we progress our plans to join forces with Southern Co-op.”
Co-op Group Southern Co-op Merger
Looking ahead, it reported that activity to bring together the operations of Southern Co-op and Co-op Group will commence subject to the outcome of the ongoing review by the Competition and Markets Authority (CMA).
Earlier this month, the CMA decided the Co-op Group and Southern Co-op merger has resulted or may be expected to result in a substantial lessening of competition, and will be referred for an in-depth, phase 2 investigation unless “an acceptable undertaking to address these competition concerns” is offered.
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