Southern Co-operative

Southern Co-op (originally Portsea Island Mutual Co-operative Society) is a regional consumer co-operative in the United Kingdom. The principal activities of the Society are food retailing and funerals. It operates over 200 convenience stores and 50 funeral homes, covering the southern English counties of Berkshire, Bristol, Devon, Dorset, Hampshire, Isle of Wight, Somerset, Surrey, Sussex and Wiltshire. Southern Co-op society is owned by over 160,000 members who share in the business's profits and democratically control its operations. It is a registered Industrial and Provident Society,[1][2]

Southern Co-op
Consumer Co-operative
IndustryRetail
Founded1873
Headquarters1000 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
ProductsGrocer, Funeral director, Independent living
Revenue £450.9 million (18/19)
£2.56 million (18/19)
Members 143,983 (18/19)
Number of employees
 4,449 (18/19)
Websitethesouthernco-operative.co.uk

The business of the Southern Co-op includes a natural burial ground in West Sussex and crematoria in Hampshire and Devon, as well as an online home shopping service, Co-operative Mobility. Additionally, the Co-op franchises over 20 stores that trade under the Welcome brand and has a franchise project with Starbucks.

In the full year ending 27 January 2019, Southern Co-op recorded sales of £450.9m (£431.2m 2017/18) and a profit before tax of £42,000 (£2.4m 2017/18) after investment in new IT systems. The Society has paid a share of profit dividend to members in previous years, but the Board did not recommended a member payout for 2018/19 to ensure the Society has sufficient resources to invest in its various businesses. Southern Co-op had no bank debt and the pension scheme was fully funded with a £7.1m surplus (£2.5m surplus 2017/18) as at 27 January 2019. Society membership was 144,000 in 2018/19, down from 158,000 in 2017/18.[3]

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.[4]

Operations

The coop operates around 180 Co-op Community stores, covering Hampshire, the Isle of Wight, Sussex, Berkshire, Somerset, Surrey, Devon, Bristol, Kent and parts of Dorset and Wiltshire.

Registered in England and Wales under the Companies Act 1985, it is a member of Co-operatives UK, the Co-operative Retail Trading Group and a corporate member of The Co-operative Group.

The business grew in 2018 with turnover up 4.6%. Total income reached £450.9m, an increase of £19.7m from 2017. The important measure of same-store food retail sales increased by 3.6%. Growth outperformed the wider grocery market for 2018.

Alongside two new food stores and five new funeral homes, Southern Co-op purchased an option on 10 acres of land in West Sussex for a third crematorium. It invested £3.2m into growing its Starbucks franchise business with the acquisition of 16 coffee retail outlets within Cobra Coffee Ltd.

Membership of Southern Co-op has a direct structure, with members entitled to attend AGMs.

See also

References
  1. "Landmark 200th store for Southern". Co-operative News. 2 August 2016.
  2. "Home". Southern Co-op. Retrieved 2019-07-04.
  3. Southern Co-op https://www.thesouthernco-operative.co.uk/annual-review-2018/. Retrieved 2019-11-03. Missing or empty |title= (help)
  4. "1000 Lakeside is the new home for the Southern Co-operative". Southern Co-operative. 24 March 2011.
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