One of Britain’s best-known food retailers has reported a sharp jump in the cost of theft from its stores as the country struggles with widespread shoplifting.

The member-owned mutual has spent £18 million so far this year on measures to help protect staff in its food business.

Co-op managing director of food Matt Hood has insisted the monetary cost of shoplifting pales compared to its impacts on staff members.

Co-op has revealed a £40m hit from shoplifting in the first half of the year as it said criminals were becoming “more brazen” in its stores. The retailer said that costs incurred from theft were up 19pc in the first six months of the financial year,

Co-op reveals cost of shoplifting surges by nearly a fifth - The member-owned mutual has spent £18 million so far this year on measures to help protect staff in its food business.

The retail-to-funerals business reported pre-tax profits of £58 million for the first six months of 2024, against losses of £33 million a year ago.