The Co-operative reports good Christmas trading
10 January 2012
The Co-operative Group
Total gross sales for the trading businesses were up 3.1 per cent on the corresponding period last year with food and online electrical sales doing particularly well under tough conditions.
Sales in like-for-like food stores (inc. VAT, exc fuel) also increased by 3.1 per cent in the four weeks and, in the week leading up to Christmas, were up by 16.1 per cent, benefiting from the timing of Christmas Day. In the 13 weeks to 31 December, like-for-like sales were down 0.2 per cent on the same period last year.
The Co-operative Electrical, the Group's online electrical business, had its best Christmas ever with sales during the same four weeks up by 18.4 per cent.
Top-selling Christmas lines were:
- British higher welfare Co-operative Elmwood turkeys up 25 per cent
- Freshly-baked mince pies up 12 per cent
- White wines up 21 per cent boosted by fine and exclusive lines
- Electrical sales in food stores up 78 per cent
- Flat screen TVs up 20 per cent
- Home entertainment products, laptops and i Pods up 30 per cent
- Food mixers, coffee makers and microwaves up 20 per cent
Like-for-like sales across the Group's other trading businesses were also up on the previous year, most notably in motor trades where sales in the four weeks were up 32 per cent due to a surge in Landrover sales.
Peter Marks, Group Chief Executive, The Co-operative Group 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 food sales growth in December comes on the back of an improving LFL trend throughout the second half of the year. It is thanks to the hard work and outstanding customer service of all of our colleagues that these trading results have been achieved."
ends
Contact Information:
Susanna Voyle
Lucy Legh
Tulchan Communications
Tel: 020 7353 4200
Martin Henderson
The Co-operative Group
Tel: 0161 827 5292