The Co - Operative Group Posted a Stellar Trading Performance
THE Co-operative Group added to the retail cheer when it posted a stellar trading performance for its food stores over the festive period, helped by the Arctic weather, price cuts and demand for ethical products.
Like-for-like revenues in the three weeks to January 2nd rose five per cent – albeit slightly lower than the six per cent a year ago.
In the 12 weeks to that date, revenues were up 4.8 per cent on a like-for-like basis and 66 per cent in total, boosted by the £1.6bn acquisition of Somerfield. It was the 16th consecutive quarter of like-for-like growth for the Manchester-based group, the country’s largest mutual retailer and fifth largest food retailer.
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