Co-op Wholesale’s revenue for the period ending 5 January 2025 fell from £1.42bn to £1.32bn, with the wholesaler also experienced an operating loss of £130,000 compared to £14.2m operating profit the previous year.
Meanwhile, Nisa retailers received more than £2.1m increase in rebates paid out across the entire estate, despite Co-op Wholesale experiencing both a loss in revenue and profit, with this going up to £47.7m.
Commenting in the results, Co-op Wholesale managing director Katie Secretan said: “In 2024, the overall level of turnover decreased by 7%. This is primarily driven by challenging market conditions as well as the shorter trading period in the 52-week period in 2024 versus the 53-week year in 2023. The business was able to maintain market share through pro-active support to our partners and price investment.
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“The business’ profit declined in 2024, as a result of both declining market volumes and continued commitment to price investments made by directors to ensure a strong proposition for our retailers, so they could remain competitive and continue delivering value to their shoppers in these difficult economic times.”
Secretan added the firm continues to develop its Co-op own brand range, “with 92% of retailers buying own brand in 2024.” She added: “These products act as a key differentiator for independent retailers, helping them meet demand for quality products while staying competitive on price.
“We also enhanced our proposition, including our customer incentives and focused on building collaborative partnerships for long term, sustainable growth and loyalty.”
