This was a 2.4% increase from the 2025 H1 revenue of £5.5 billion. Co-op said this growth was achieved in soft markets with “continued weak consumer confidence”, and trading improved through the second quarter and into the second half.

Across food retail, Co-op earned £3.7 billion, up 2.6% from its H1 2025 food retail revenue of £3.6 billion. Co-op reported strong summer trading that supported confidence in its full-year progress across its sales and profitability measures, while stating that it had navigated “challenging markets” with growth in sales, convenience market share and membership.

It highlighted that it had invested around 1% of margin in driving trade and footfall in food stores through deals, discounts and 135 products price matched to Aldi for members, resulting in transactions returning to levels seen before its 2025 cyber attack.

However, Co-op posted a loss of £45 million, which was £13 million more than previously reported in H1 2025, at £32 million. In its food retail category, underlying operating loss totalled £18 million.

The retailer said it expects to deliver a stronger second half, with progress across both sales and profitability metrics.

“The first half was characterised by difficult markets and low consumer confidence, especially for food retail.”

Interim chief executive, Kate Allum, commented: “2026 is looking like a year of two halves for our Co-op. The first half was characterised by difficult markets and low consumer confidence, especially for food retail. Against those conditions, we made decisions to drive trade – investing in promotions and investing in our stores – while also mitigating rising costs. These things have had a short-term impact on profitability.

“Speaking now in the second half, we’re seeing bigger baskets and more transactions. Conditions remain challenging, but we see reasons for confidence across our portfolio, having delivered strong growth in areas such as online convenience shopping and funerals. We expect to see a stronger performance in the second half than the first, with sales growth and improvements in profitability.

“Our immediate goal is to establish the firm foundations we need to realise greater growth in the years ahead – something we’re gearing up for as we progress our plans to join forces with Southern Co-op.”