Subscriber login Close [x]
remember me
You are not logged in.

Co-op reports 4% growth in Christmas trading

Published:  23 July, 2008

The Co-operative Group has that announced trading sales were up by 3.4% over the Christmas and New Year period.

The figures mark the eighth successive quarter of like-for-like food growth.

Trade in Co-operative Group food and drink stores overall for the three weeks ending 5 January 2008 totalled more than 275m, up by 5.2%.

The group saw:

Record sales of 24m on Christmas Eve

Like-for-like sales over the three weeks to 5 January 2008 up by 6.2% in convenience stores

Like-for-like sales over the 13 weeks to 5 January 2008 up 3.3% and 6% for convenience stores

Guy McCracken, chief executive of food retail, said: "This is a solid performance from the recently merged group and demonstrates the continued momentum within our food business. The group has now delivered eight successive quarters of like-for-like sales growth in an intensely competitive market which is a great credit to our colleagues.

"Our Christmas sales performance demonstrates the success of our 'good with food' programme, especially the development of our convenience and premium ranges.

"This is set against declining cigarette sales and a very limited non-food offer compared to the major supermarkets."

Sales over the 13-week period were up by 12% in newly refitted convenience stores and by 11% in the group's five new-format supermarkets

McCracken said: "The results from the rebranded stores shows that our customers are enjoying the new shopping experience and this augurs well for 2008 when a further 700 stores will be re-fitted to the new brand at a cost of 200m."