Southern Co-operative
Southern Co-op (originally Portsea Island Mutual Co-operative Society Ltd, now officially The Southern Co-operative Limited)[1] is a regional consumer co-operative in the United Kingdom. The principal activities of the Society are food retailing, funerals and cafés. It operates more than 300 convenience stores as well as funeral homes and Starbucks franchises. Its operations are mainly located in the southern English counties of Berkshire, Bristol, Buckinghamshire, Cornwall, Devon, Dorset, Hampshire, Isle of Wight, Kent, London, Somerset, Surrey, Sussex and Wiltshire. Southern Co-op society is owned by over 170,000 members who share in the business's profits and democratically control its operations. It was previously registered as an Industrial and Provident Society, but its status is now as a mutual society under the Co-operative and Community Benefit Societies Act 2014.[1]
Type | Consumer Co-operative |
---|---|
Industry | Retail |
Founded | 1873 |
Headquarters | 1000 Lakeside, North Harbour, Western Road, Portsmouth, Hampshire PO6 3FE |
Area served | Hampshire, the Isle of Wight, Sussex, Berkshire, Somerset, Surrey, Devon, Bristol, Kent and parts of Dorset and Wiltshire. |
Key people | Mark Ralf, Chair Mark Smith, Chief Executive |
Products | Grocer, Funeral director, Independent living |
Revenue | £515.4 million (22/23) |
£-1.3 million | |
Members | 172,625 (22/23) |
Number of employees | 4,491 (22/23) |
Website | thesouthernco-operative |
The business of Southern Co-op includes burial grounds in West Sussex, Dorset and Cheshire, crematoria in Hampshire and Devon. Additionally, Southern Co-op operates franchise stores operated by franchisees under the Welcome brand.
Total income for Southern Co-op exceeded £500m in one year for the first time ever in 2022, reaching £515.4m. This reflected growth across the trading businesses with like-for-like food sales of +1% compared to last year. Starbucks business total sales were £39.9m with the benefit of new stores, whilst like-for-like sales in stores open more than a year were up 10.8%. Volumes of client engagements undertaken in End of Life operations rose during the year to reach a total of 9,373.
There is a significant impact on 2022 profit results from the spiraling cost of energy in the year. Suppliers had hedged positions in place on costs but faced significant uplifts as the hedges unwound, and the market was not offering equivalent terms. It is expected that some of this excess cost will drop out of forward market prices over time. Southern Co-op reported a small operating loss of £1.3m, compared to a profit of £4.3m last year. This reflects the rapid increase in energy costs, along with the cost-of-living support payments to there colleagues.
33,632 new Members joined Southern Co-op during 2022-23 (29,323 in 2021-22).
History
Southern Co-op was formed in 1873 by dockyard workers who had transferred from Woolwich docks in east London to the Portsmouth dockyard. The workers had previously set up a successful Co-operative Society in Woolwich. When they arrived in Portsmouth they decided to replicate a similar set-up there.
In December 1872, 30 people attended a public meeting and unanimously agreed to pay one shilling (12 old pence) for the establishment of a local Co-operative. After five months, the Portsea Island Mutual Co-operative Society's first shop opened in Charles Street on 9 May 1873.
The head office was previously located at Fareham in Hampshire until, July 2011, when it moved to 1000 Lakeside, a business park in North Harbour, Portsmouth.[2]
In 2023 it marked its 150th anniversary with a special logo.
Operations
Southern Co-op operates around 200 Co-operative Food stores, covering Hampshire, the Isle of Wight, Sussex, Berkshire, Somerset, Surrey, Devon, Bristol, Kent and parts of Dorset and Wiltshire. They also operate more than 60 Starbucks stores which are franchised under Cobra Coffee - owned by Southern Co-op.
There are also over 60 Southern Co-op funeral branches across the south of England.[3]
Registered in England and Wales under the Co-operative and Community Benefit Societies Act 2014,[1] it is a member of Co-operatives UK, the Co-operative Retail Trading Group and a corporate member of The Co-operative Group.
References
- "FCA – Mutuals Public Register". Financial Conduct Authority. Archived from the original on 10 October 2022. Retrieved 2 July 2021.
- "1000 Lakeside is the new home for the Southern Co-operative". Southern Co-operative. 24 March 2011. Archived from the original on 14 April 2012. Retrieved 13 May 2012.
- "Continuity assured as four co-operative funeral branches change hands". The Co-operative Funeralcare. December 2021.