Co-op has named Rachel Hargreaves as its new director of property, development and estates, as the convenience retailer pushes ahead with strategic growth plans.
Hargreaves, who previously served as regional head of property at Lidl GB, will focus on ensuring the retailer is at the forefront of landowners, developers and agents minds as the go-to convenience operator for new retail floor space.
She will report to Co-op’s group property director Heather Thomas while directing and leading on new initiatives to maximise the potential of the company’s existing portfolio of properties.
While working at Lidl, Hargreaves’ role involved implementing the discounter’s expansion strategy, including the appraising, budgeting, planning and co-ordination of the delivery of a five year plan of acquisitions, construction, asset and estate management.
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Hargreaves said: “Co-op is an iconic British household name that is marking its 180th anniversary, and it is clear that the importance of co-operation in communities across the UK could not be more relevant today.
“This is an exciting opportunity with Co-op focussed on delivering increased value for its member-owners, and well placed to target additional growth through its core business areas.”
Earlier this month, Co-op group saw pre-tax annual profit fall sharply amid intense competition from discounters and heightened costs due to record levels of shoplifting, while its retail profits jumped 11%.
The retailer attributed the rise in underlying operating profit to cost efficiencies, including improvements in availability, waste reduction, optimised stock-holding, and an overall reduction in its cost-to-serve.
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