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Sales at The Co-op leapt 16.1% in December Tuesday, 10th January 2012
The Co-operative Group’s like-for-like sales grew 3.1 per cent in the four weeks to 31 December, with a 16.1 per cent leap in the seven days to Christmas.
White wines and mince pies led the festive cheer, with sales up 21 per cent and 12 per cent respectively, but away from the holiday shopping, it wasn’t all good news for The Co-op.
In the 13 weeks to 31 December, like-for-like sales dropped 0.2 per cent, although the group said the second half had seen a general improvement in like-for-like sales.
The Co-operative Group chief executive Peter Marks said: “These results represent an encouragingly good performance in the very competitive markets in which we operate and in continuing difficult economic times.
“Against the backdrop of financial pressures on household budgets our focus on quality and value and the fact that our food stores are located within communities struck a chord with customers.”
The company has also acquired Scottish convenience retailer David Sands, purchasing 28 stores in Fife, Kinross and Perthshire for an undisclosed sum. The acquisition is the latest step in The Co-op’s plans to expand its 2,800-strong UK food store network by more than 300 stores over the next three years.
Marks said: “The Sands stores will be a valuable addition to our food portfolio as we forge ahead with our programme to grow the business by seeking new opportunities at the heart of local communities right across the UK. This deal will significantly strengthen our position in Scotland.”