DOCSLIB.ORG

BUSINESS IDEAS to MAKE & SAVE

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
BUSINESS IDEAS to MAKE & SAVE “We spend £25 per month on giant banners to NATIONAL LIVING advertise our better WAGE than half price deals. SURVIVAL Now every customer GUIDE knows about our NEWS ● CONVENIENCE ● PROFIT great prices” Vip Panchmatia Costcutter, Stroud PART 1 NEW WAYS TO DRIVE YOUR PROFIT MARGINS IDEAS FOR CUTTING YOUR OVERHEADS exclusive BUSINESS IDEAS to MAKE & SAVE money Don’t miss the opportunity to innovate with part one of our guide www.jtiadvance.co.uk – developed with you, for you. RN ad template.indd 21 1/22/16 4:10 PM 108892 Scottish Grocer 297x210.indd 5 20/01/2016 14:30 12.02.2016 BAKERS’ CHOICE Two stores, two different strategies IN-STORE BAKERY Page 32 » No typical newsagent ‘Demand for £10 mags made opening a store a no-brainer’ Page 26 » NEWS l CONVENIENCE l PROFIT www.betterretailing.com l £2.30 MP slams sneaky Sunday trade plan LEGISLATION l Government accused of using ‘underhand’ tactics and ‘outdated’ figures to push through opening hours changes. Increase l Cross-party alliance vows to keep fighting ‘anti-family, tobacco anti-small business’ proposals. Page 5 » prices ‘at own risk’ NEWSPAPERS Manufacturers warn price hikes Mail in could drive smokers digital to supermarkets. subs trial Page 4 » Scottish stores FRANCHISING first to process customer payments Bargain through terminals. Booze sets Page 4 » sights on SECURITY expansion Spring recruitment ‘Keep a drive follows record close eye number of store openings. on staff’ Retail crime tops Agenda Guto Bebb MP, pictured above, hosted an NFRN reception at Page 7 » Stark warning the House of Commons, attended by 48 MPs. after staff thefts “It’s often thought that retail crime is noth- ing more than shoplifting, and there’s noth- Hello! magazine cost retailers tens ing further from the truth,” said Mr Bebb. ofers independents of thousands of Inset: Nirupa Patel, centre, who was brutally exclusive promotion pounds. attacked in her Luton store over Christmas, to boost sales. is pictured with Meg Hillier, MP for Hackney Page 12 » Page 13 » South, and Ranjan Patel. Page 5 » RN ad template.indd 21 1/22/16 11:07 AM Retail Newsagent 12 February 2016 3 There was a lively Twitter discussion last week, following RN’s story that the Daily Mail had pinched £1.8m of potential profit from retailers after raising its cover price by 5p. The opinion of the publishers, wholesalers and roundsmen involved is that pounds, not percentage points, pay the bills and retailers are earning more after the margin cut than they were before. RETAIL NEWSAGENT NEWS ● CONVENIENCE ● PROFIT However, retailers are not convinced and I can think of a few reasons why. First, the extra £1.8m the Mail added to the £12.2m I estimate it’s It may be pounds that making from the price rise will go straight to its bottom line. It will help pay the bills, but you fund the National Living Wage and offset the extra sales decline caused by the rise. This will inhibit retailers’ ability to do either. only have to look at The second reason could be the Mail’s comment last week, that the RN’s Pricewatch page price rise will generate an additional £16.1m RSV each year. But this will each week to see how come at a cost – and you’ll be paying for it. Retailers will have to stump retailers have never up an extra £12.5m to fund the increase, after your margin has been re- claimed. This is extra cash that will be tied up in your businesses and looked more closely will be unavailable to be invested in other more profitable areas. at their margins It may be pounds that pay the bills, but you only have to look at RN’s Pricewatch page each week to see how retailers have never looked more closely at their margins. One retailer told me every part of his store is under the microscope to ensure he has the right products in the right quantity to earn the optimum margin. The two categories he admits he has barely looked at are news and magazines. For his 27 years in the trade, it has been CHRIS GAMM assumed – by all parties – that they are untouchable. Editor But how many more cuts can the category, these long-held assump- @ChrisGammRN tions and retailers’ loyalty withstand? 26 CONTENTS 34 NEXT WEEK 24 PRICEWATCH NEWS you thinking of making and saving guide 4 INDUSTRY NEWS switiching fascias Cigar prices 32 IN-STORE BAKERY Indies around the UK warned over increasing or joining one for Customers expect their the first time? 25 THE ENTREPRENEURS local c-store to sell tobacco prices 19 YOUR ISSUE 6 BUSINESS NEWS Conviviality In the second What you can learn freshly-baked goods. of our special reports from the world’s sets its sights on more RN talks to two from Menzies’ Wakefield best business franchise growth retailers to find super hub we look at the brains. This week, out how they meet 8 PRODUCT NEWS Red Bull processes involved on a Donald Trump demand 50 IDEAS pricemarks its ‘big cans’ typical day at the busy 26 RETAILER PROFILE 34 PREVIEW Part two of our profit- 12 NEWSTRADE Hello! promo distribution facility Jeremy Leslie Two new additions boosting guide deal could increase mag 20 INDUSTRY PROFILE spotted a 32 to Unilever’s sales by up to 500% Booker Premier gap in the ice cream range; 13 REGIONAL NEWS Trust no Director of Premier market for niche, Kopparberg expands one, warns retailer Martin Swadling, 20 specialist magazines into the fruit lager sector 16 NFRN DISTRICT COUNCIL below right and decided to fill it, Scotland DC report 21 COLUMNIST with his MagCulture THIS WEEK Thinking of shop in London’s trendy COMMENT & adding a new IN MAGAZINES Clerkenwell TOBACCO ANALYSIS store to your 36 ROUND-UP Is print being 17 LETTERS I’m counting my portfolio? Barry FEATURES sactrificed? Get to know your brands blessings says happy Frost has some 28 50 IDEAS 36 FOR YOUR SHELVES with our exclusive cut- newsagent tips on getting Part one of GQ Beckham special; out-and-keep cards 18 YOUR STOCK, YOUR SAY Are the best deal RN’s money- N-Photo supplement “WITH THE NATIONAL LIVING WAGE AND PENSION AUTO-ENROLMENT IT’S MORE IMPORTANT THAN EVER” – THIS YEAR’S 50 IDEAS GUIDE IS FULL OF MUCH-NEEDED PROFIT-BOOSTING IDEAS FOR YOUR STORE Page 28 » 4 12 February 2016 Retail Newsagent Follow RN f on Facebook facebook.com/retailnewsagent to have your say on the latest news Crisp fans Surrey store’s fresh new look turn to Convenience store group Kavanagh Retailing UK of- popcorn ficially reopened its Kava- nagh’s Budgens of Hinch- Independent retailers have ley Wood store in Surrey reported strong growth in this week, following a refit popcorn sales, while crisps in which new fresh and sales have remained steady. artisan food ranges were The news comes as added, along with fresh industry reports showed coffee and breakfast op- UK popcorn sales are grow- tions for shoppers. The ing by around 30%, while Hinchley Wood shop is the volume sales of crisps are second Kavanagh’s store up 1% with value sales in to adopt Budgens’ latest decline. premium concept follow- Haleem Sadiq, category ing a refit at its business controller at Bestway, said: in Eton. “The growth in popcorn – as well as nuts and fruit-based snacks – is being driven by shoppers opting for Retailers’ worries over higher running costs Increases ‘could play into hands of supermarkets’ food that fits with their healthier lifestyles.” Richard Cox, of Nisa Lo- cal in Essex, said: “I make £50 a week from popcorn, Tobacco pricing warning which has grown by around 15% in the last two years.” Nisa retailer Harj Dhasee reported a 35% increase in as indies consider rises popcorn sales in the past by Steven Lambert year, with £1 pricemarked of Farrants Newsagents in and I look for margins of have to navigate the tobacco Heritage packs being his Cobham, Surrey, said he around 9% to 10%. I’ll be category on little more than best-selling line. Tobacco manufacturers is looking to raise prices keeping this if pricemarked price alone,” he said. have raised concerns about on his tobacco products to packs go. “They will become more independents’ plans to raise improve his margins. “But we still want to price-savvy and if they tobacco prices in the face “I’m adopting a cost price remain competitive so I’ll can get tobacco cheaper in Discount of growing financial and system and I’m looking be comparing my prices to Sainsbury’s than in Londis, legislative pressures, which to achieve 8% margin on other convenience stores in you can’t blame them for they claim could play into cigarette sales,” he said. future.” going there.” defence the hands of supermarkets. “We’re halving our profit Ron Ridderbeekx, head A spokesman for Imperi- Booker and Bestway have Retailers told RN that fac- margin by stocking price- of corporate and regulatory al Tobacco added: “Tobacco defended their decision tors including the National marked packs and I think afairs at British American pricing plays a critical role to supply Easy Foodstore, Living Wage and the poten- if they go, retailers will Tobacco, said while manu- in the independent trade claiming the mega-dis- tial removal of pricemarked have more flexibility to be facturers could not dictate and stores will need to counter is paying the same packs under proposed plain choosier with their prices.” what prices retailers charge conceive their own pricing wholesale prices for goods packaging laws are leading Alkesh Pankhania, for tobacco, store owners strategies, which allow as independents.
Load more

Recommended publications
  • Co-Op Way Report 2018 Read More in Our Performance Data Report Contents
    Co-op Way Re por t 2018 Our ethics and sustainability performance 1 Co-op Way Report 2018 Read more in our Performance Data Report Contents Overview It’s important to our members that their business is run in 3 About us an ethical and sustainable manner. For over a decade we’ve 4 CEO statement been committed to providing members with a comprehensive 5 Our approach to ethics report on our ethics and sustainability performance to help and sustainability them understand how we’re doing on the issues that matter 6 Membership and democracy to them. 7 Co-operation among We recognise that many members want to receive this information in a short summary, co-operatives while others welcome, and indeed require more detail and full transparency on our 8 Community performance, to evaluate how we’re doing. So our report is in two parts: an Overview 11 Ethical trade and a Performance Data Report. and human rights 14 Food and farming Page 8 16 Environment and resource use £39m raised for local 20 Healthy living causes since the launch of our Local Community 21 Health and safety Fund in 2016 22 Diversity and inclusion Page 7 24 Colleague wellbeing Co-op Academies Trust ran 18 academy Performance data schools at end of 2018 28 Performance Data Report 62 Performance against 2018 targets 66 Assurance statement Page 16 33% reduction in our direct greenhouse gas emissions since 2016 Page 13 1st UK retailer to ensure that Fairtrade producers benefit where coffee, tea and bananas are used as 2 an ingredient in our products Co-op Way Report 2018 Read more in our Performance Data Report About us Our main markets We’re the UK’s largest consumer co-operative, with 4.6 million active members and a presence in every postal Food retail Over 54,000 colleagues area in the country.
    [Show full text]
  • Co-Op Annual Report 2017 Overall Contents
    Co-op Annual Report 2017 Overall contents Strategic report Top ten places to look in 5 Headlines our annual report if you 6 Our business only have 15 minutes 7 Chair’s introduction – Allan Leighton 9 Chief Executive’s introduction – Steve Murrells 1. The headlines 12 Report from the President of the Members’ Council – Nick Crofts page 5 Our business performance 2. What we’re about 14 – Food page 6 17 – Funeral and Life Planning 3. Chief Executive’s 20 – Insurance introduction 22 Our finances page 9 26 Our colleagues 4. How our businesses did 29 Community, campaigns and sustainability during the year 32 Key performance indicators page 14 33 Principal risks and uncertainties 5. Our colleagues page 26 6. Our business leaders Governance report page 39 and page 42 7. Executive pay at a 39 Board biographies glance 42 Executive biographies page 67 43 Governance review 8. A clean audit report 53 Report of the Risk and Audit Committee page 170 61 Report of the Remuneration Committee 9. A jargon buster to help 80 Report of the Nominations Committee you understand our 84 Directors’ report accounts 89 Your Council’s annual statement page 178 93 Report of the Scrutiny Committee 10. The last five years page 185 Financial statements 96 Consolidated income statement 97 Consolidated statement of comprehensive income 98 Consolidated balance sheet 99 Consolidated statement of changes in equity 100 Consolidated statement of cash flows 101 Notes to the financial statements 163 General accounting policies 170 Independent auditor’s report to the members of Co-operative
    [Show full text]
  • Helen Dickinson OBE Chief Executive British Retail Consortium 2 London Bridge London SE1 9RA [email protected]
    Helen Dickinson OBE Chief Executive British Retail Consortium 2 London Bridge London SE1 9RA [email protected] The Rt. Hon. Sajid Javid MP Chancellor of the Exchequer HM Treasury 1 Horse Guards Road London SW1A 2HQ 13 August 2019 Dear Chancellor, Enabling the Prime Minister’s economic package to boost local investment We write to you as retailers representing businesses and jobs in every community across the UK. The likelihood of a no-deal Brexit appears to be increasing, which we believe would place a considerable strain on retailers in the UK. In this context, the Prime Minister’s intention to pursue an economic package to boost business and investment in the UK is crucially important; we strongly believe that reform of the broken business rates system should be front and centre of that package. This outdated tax is hindering our plans for investment, holding back productivity growth and detrimentally impacting communities up and down the country. The retail industry is the UK’s largest private sector employer, employing around 3 million people. The industry is undergoing a significant transformation as a result of new technologies and changing consumer behaviour. Many are adapting well to this change, some less so, but all are doing so in the face of significant headwinds, including an ever- rising cumulative cost burden from public policy initiatives, which impact our ability to respond and invest. The UK has one of the highest commercial property taxes in the world. This is damaging the country’s competitiveness internationally and although productivity growth in retail is outpacing the rest of the economy, the industry has the potential to do so much more.
    [Show full text]
  • Excellence Integrated Consumer Research
    Consumer Research – A Broker’s Perspective of the UK & Irish food industries Consumer Research - A broker’s perspective of the UK & Irish food industries A presentation to the Northern Ireland Food & Drink Association conference , September 2016 Excellence Integrated 1 Consumer Research – A Broker’s Perspective of the UK & Irish food industries UK & Irish food industry – setting the scene 1. Uncertainty rules but life must go on 2. Expectations for the grocery trade 3. The Supermarket sweep 4. The growing relevance of foodservice 5. Category overviews for the supply chain in the British Isles 2 Consumer Research – A Broker’s Perspective of the UK & Irish food industries UK & Irish consumer economy • …, despite the worry lines… • Employment levels in the UK are at records high, unemployment remains a problem in Ireland • Real incomes are still growing with low inflation… • …but growth in living standards is slowing as CPI creeps higher… • …the devaluation of sterling will be a key variable • UK National Living Wage will boost low income spending power… • …but re-price labour versus capital • UK housing market appears relatively resilient • Consumer confidence (GfK NOP) is recovering but is likely to ebb & flow • Asda Income Tracker reports highest ever weekly discretionary income in the UK… but the rate of growth in real incomes may have peaked in this cycle. • Have things ‘got as good as they are going to get’? Probably for quite a while… 3 Consumer Research – A Broker’s Perspective of the UK & Irish food industries UK consumer – the
    [Show full text]
  • Retail's Revolution
    RE TAIL’S REVOLUTION HOW RETAIL AND CONSUMER GOODS COMPANIES CAN ADAPT On the cover: Interior design in the new shopping mall Oceania, in Moscow. PREFACE There has never been a better time to go shopping. There has never been a tougher time to run a shop. Consumers can now find, buy, and receive products in a multiplying number of ways. Where shopping was a chore, it now gets done in a few clicks. Where it was a pleasure, it has expanded into a journey of discovery. All this depends on a stream of innovations – in fields as diverse as online interfaces, store operations, and delivery. But innovation often means disruption, with new business models being created. Many of the new models will come from new participants in the sector, acting either independently or in strategic link-ups with incumbents. As new models gain popularity, business will drain away from others – something particularly visible in the shift to online sales. This has led to store closures, accompanied by headlines like “the death of retail.” To dig deeper into these upheavals, we interviewed more than 50 executives in retail, consumer-goods manufacturing, finance, and government, as well as other sectors that interact with retail. The resulting insights enabled us to put together this report, and I would like to thank these participants for their generous contributions. For me, four conclusions stand out. First, there are huge opportunities for new businesses and inventive incumbents to thrive in retail. The shopping experience of the future is still being designed, and every new solution will be followed by something even better.
    [Show full text]
  • Co-Op Modern Slavery and Human Trafficking Statement 2017 Co-Op Modern Slavery and Human Trafficking Statement 2017 1 Contents
    Co-op Modern Slavery and Human Trafficking Statement 2017 Co-op Modern Slavery and Human Trafficking Statement 2017 1 Contents Introduction Our work in 2017 ........................................................................................................................ 3 About us: Our business and our supply chains .................................................................. 4 (1) Managing the risk of modern slavery (i) Policies and governance ..................................................................................................... 6 (ii) Assessing and managing risk ............................................................................................ 7 Our Co-op Food own-brand supply chain ...................................................................... 7 Other products and services we sell, and those we use in our own business ........ 8 (2) Training, capacity building and collaboration (i) Training with our suppliers and in our supply chains ................................................... 10 (ii) Training our colleagues ..................................................................................................... 11 (iii) Collaborating with others ................................................................................................. 12 (3) Going the extra mile: Campaigning on modern slavery (i) Bright Future ........................................................................................................................ 13 (ii) Advocacy and lobbying for better support
    [Show full text]
  • UK Retail CEO Tracker Trends at the Top 2018 UK Retail Sees a 22% Increase in CEO Change in 12 Months Amidst Ongoing Sector Pressure | CEO TRACKER 2018 |
    UK Retail CEO Tracker Trends at the Top 2018 UK Retail sees a 22% increase in CEO change in 12 months amidst ongoing sector pressure | CEO TRACKER 2018 | Introduction The UK economy has been described 2017 HIGHLIGHTS: as “‘steadied’ by static infl ation and 1 rising exports as a result of Brexit” but Four notable fi ndings from this year’s UK the uncertainty predicted at the end of Retail CEO Tracker: 2017 is well refl ected by the UK Retail . There were 50 changes in CEO in 2017, Industry. As predicted in our UK Retail compared to 41 in 2016 – up 22% from CEO Tracker this time last year, the past the previous year. 12 months has seen a signifi cant increase . The number of female CEOs appointed in the number of CEO changes in UK increased slightly from eight to nine Retail, up from 41 changes in CEO during – but represented an overall decline percentage-wise, on the year before. 2016 to 50 by the end of 2017. More CEOs were appointed from 2 According to the Offi ce of National Statistics , backgrounds in Operations this year, during the latter part of 2017, the UK’s GDP with Finance a close second. grew 0.4% in the quarter, unchanged from the previous estimate, and down from the . Listed retailers have shown restraint in 0.6% growth this time last year. With the awarding salary increases as a result of public scrutiny on pay. weak pound continuing to fuel infl ation, and increasing pressures on margin at a time where the sector is continuing to go through signifi cant digital transformation, it is unsurprising that so many retailers have looked to change CEOs in the past year.
    [Show full text]
  • Exclusivebrandsourcing Retailer/Wholesaler Database
    EXCLUSIVEBRANDSOURCING RETAILER/WHOLESALER DATABASE Copyright 2015 © Exclusive Brands LLC N/A = Not Available or Not Applicable A.S. WATSON GROUP 1-5 Wo Liu Hang Road, Fo Tan, New Territories, Hong Kong, CHINA Tel: +852 2606-8833 Fax: +852 2695-3664 www.aswatson.com Total 2012 Revenues: $18.9 Billion(HK$ 146.6 Billion) +4 % Percentage of Sales in Exclusive Brands: N/A Principal Business: A.S. Watson is the retail group owned by Hutchison Whampoa Limited, a HK $ 398.4 billion ($51.3 billion) +4%, multi-national conglomerate, which is also active in port investments, infrastructure (energy, transportation, water, etc.), telecommunications, and finance. The company roots trace back to 1829 as a small dispensary, offering free medicine to poor Chinese in the province of Guangdong (Canton). A.S. Watson, now contributes 36.8% of total parent company revenues, through its operation of 10,865 retail outlets under some 20 banners located in 33 markets, specifically in 22 European countries and 20 countries in Asia. This business encompasses a diverse portfolio: health and beauty stores, luxury perfumeries and cosmetic outlets, supermarkets, consumer electronics and electrical appliances stores, and airport duty free shops. Divided into five sub-divisions, the company operates Health and Beauty China (HK$ 15.4 billion +17%) with 1,438 stores; Health and Beauty Asia (excluding mainland China) (HK$ 18.1 billion +7%) with 1,684 stores; Health and Beauty Europe (HK$ 61.6 billion +1%) with 5,599 stores; Luxury Europe (HK$ 16.6 billion -7%) with 1,656 stores; and Other Retail & Manufacturing (HK$ 36.9 billion +6%) with 488 stores and production of water and juices.
    [Show full text]
  • Template Letters
    Church Campaign on Single-use plastic Single-use plastic is a major issue in polluting the environment and harming wildlife. As part of our work, Christian Action for the Environment in BANES (CAFE BANES) is asking Christians in the period up to 30 September to look out for the unnecessary use of single-use plastic and to write to the companies who use or sell them. There are templates for different circumstances. Template letter/email These template letters are provided for you to send by email (or by post) to the Chief Executives of companies that are selling products in single use plastic or are selling items made of single use plastic. Please feel free to amend the letters as you feel fit. Do not feel bound to use the templates at all. Please however ensure that your email/letter is polite but firm. The email address for the Chief Executive of most companies can be found at www.ceoemail.com. The postal addresses for major supermarkets are listed below if you wish to write a letter (but this campaign is not aimed just at these 8 companies). Please do follow-up if you don’t get a satisfactory reply or they don’t reply at all. What to do afterwards 1) When you have emailed/written please let us know by signing up on the list provided in your church or email [email protected]. We want to be able to publicise how many letters/emails have gone from Christians in BANES between July and September. 2) Also could you forward any email responses that you receive to Rev Ian Souter on [email protected], so that we can collate the responses.
    [Show full text]
  • Steve Murrells on BBC Breakfast – 21 Sep 2017: Transcript Charlie Stayt - Presenter So, We're Going to Have a Look at the Business News Now
    Steve Murrells on BBC Breakfast – 21 Sep 2017: Transcript Charlie Stayt - presenter So, we're going to have a look at the business news now. The Co-operative Group releasing their latest results for the first half of this year. Colletta has all the details for us… also going to be talking to the boss. Colletta Smith – business correspondent Yes indeed. Hi Charlie, Hi Naga. Morning everyone. Its £25m profit over the first half of this year for the Co-op Group which also runs funeral and insurance services as well of course as their convenience stores on high streets right across the UK. And that's a really big jump compared to the same period last year - up nearly 50 percent on their pre-tax profits. I'm joined this morning by Steve Murrells who is Chief Executive of the Co-operative Group. Hi there Steve. Let's talk first of all about that big increase. It looks good on paper but actually it was because of some pretty big losses last year thanks to the bank which you've now managed to wash your hands of. Steve Murrells – Co-op Chief Executive Well that is true we no longer have the drain of the bank on those numbers. But a 47 percent increase is pleasing. Our core businesses are doing really well and I think at the same time we've been able to put £35m back into the pockets of our members and their local causes. So the combination of those two things is actually giving us good confidence and we started the year off well.
    [Show full text]
  • Top Operators Outperform Market
    may/jUne 2013 issUe 184 DeDicateD to the UK temperatUre controlleD logistics industry UK Top 25 charT Toppers The UK’s top temperature-controlled transport and Chiltern takes a New Actros logistics service providers ranked in this exclusive Cold Top operators Chiltern Cold Storage has a Chain News survey New Actros 2545 BigSpace Page 6 that is delivering excellent fuel performance, says Paul outperform market Jackson, managing director. The truck arrived on 1 March home delivery opTions The Top 25 operator listing, produced by Cold Chain News and and in the following six We report CV Show highlights that include three new exclusive to the title, shows the biggest five temperature-controlled weeks covered some 10,000 transport and logistics providers, growing turnover. Fowler Welch is fully-freighted miles – it models for the supermarket food home delivery market the star performer this year in turnover terms moving from fifth place spends most of its time on Page 4 last year to fourth this year with a 12% year-on-year turnover increase. domestic duties at 44 tonnes, A new entry this year, taking the number two slot, is Turners but also undertakes regular Chiltern’s New Actros with Predictive Distribution. It acquired Browns Distribution last year expanding its continental assignments at 40 Powertrain Control gives 10.8mpg average customer base in Lincolnshire. Browns operates 100 vehicles and tonnes. Pulling a 13.6m Gray viewpoinT has a temperature-controlled warehouse and packhouse. & Adams reefer, the New Actros returns 10.8 mpg average, as Fowler Welch’s MD Nick Hay warns about Euro 6 “We are optimistic about the future although we anticipate tough measured by the Proteo telematics system.
    [Show full text]
  • The Co-Operative Group Annual Review 2012 the Co-Operative Group Annual Review 2012
    The Co-operative Group Annual Review 2012 The Co-operative Group Annual Review 2012 Our 2012 Headlines Group financial performance Gross sales: Underlying operating profit: Over £100m paid out to and on behalf of members £13.5bn £54m £528m capital investment Food Underlying operating profit: New food stores: £22m £288m 83 invested in Avonmouth (down £30m) distribution centre Banking Group Underlying operating profit/loss: Agreed Heads of Terms Core business: with Lloyds Banking 8.2% £120m profit (down £53m) Group for purchase of increase in primary Non-core business: Verde business, including account openings £377m loss (down £380m) 632 branches Specialist Businesses Underlying operating profit: UK’s first major consumer brand to be 5 £107m awarded an ABS licence hospital outpatient (up £8m) dispensaries opened The Co-operative Group Annual Review 2012 1 Here for you for life A co-operative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise. They are based on the values of self-help, self-responsibility, democracy, equality, equity and solidarity. In the tradition of their founders, co-operative members believe in the ethical values of honesty, openness, social responsibility and caring for others. – International Co-operative Alliance Inside this year’s review: Overview Performance Governance and Financials 2 About the Co-operative Group 12 Food 22 Financial statistics 4 Range of interests 14 Banking Group 24 Board of Directors 6 Chair’s overview 16 Specialist Businesses 26 Management Executive 8 Chief Executive’s overview 18 Estates 27 Payments to and on behalf 10 Group vision and performance 19 Our people of members 20 Social goals 28 Independent auditor’s report The Co-operative Group 2 Annual Review 2012 About the Co-operative Group Member owned model Membership lies at the heart of our business.
    [Show full text]