Appetite for Fresh Food Boosts Co-op’s Christmas
The Co-op’s focus on fresh food sold from local stores hit the spot over Christmas. The retail group said like-for-like sales, which strip out the effect of new store space, were up by 5.3% in the 12 weeks to 2 January as it cemented its position as the UK’s fifth-biggest food outlet. It now has 3000 stores after buying the Somerfield chain last year.
Chief executive Peter Marks described trading conditions as competitive but said the presence of Co-op stores within local communities gave the chain an edge at a time of rising fuel prices and extreme weather conditions.
The Co-op expects tough economic times until at least the end of 2010.
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