Revenue in Co-op's funerals business is down due to an unexpected fall in the death rate - but why are Brits dying less often?
Steve Murrells told Today: "The weather plays a part and the fluctuation in the death rate is ever thus. I suspect if we do have the Beast from the East returning early next year the death rate will start to rise again."
Also dragging on growth, the retailer has put its funeral pricing on hold in response to a more competitive market.
Mr Murrells explained: "I think it is well accepted that [the funerals industry] is going through a significant change, our focus now is about resetting our business model and making sure we’re match fit for a changing market."