Co-Op invests £70m in a bid to drive prices down on everyday essentials

Wednesday, August 2, 2023

Shoplifters are rampaging across retail stores, evading public accusations of greed by politicians who accuse supermarkets of profit-taking, the head of Co-op Food has said.

Price cuts of hundreds of common groceries will be announced by The Co-op in what is thought to be the largest investment by a convenience retailer.

Matt Hood said there had been a surge in crime in the stores and he was 'disappointed' people were defending looters after MPs criticised rip-off business rates.

Matt Hood, Co-op Food chief executive said: "Households budgets are tighter than ever, and we're committed to lowering our prices on the key lines that we know will make a real tangible difference to the millions of Co-op members and customers who shop

with us every day as a convenience retailer.

Rival retailers such as Waitrose, have also reported a rise in shoplifting while blaming the rise on organized gangs.