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Since we last published a major feature on the Coops some two years ago — also by Stuart Eliot, the Coops have made some recovery. In fact, in the writer's view, they are undoubtedly moving in the right direction. Profitability is on an upward trend; member benefit schemes are offering an attractive alternative to the traditional dividend; and mergers and structural change (always the Coops' Achilles Heel) are proceeding quite quickly. And Coop superstores are now the third largest group in the UK.

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