Strong Christmas trading and a sharpened focus on price have boosted The Co-operative Group’s fourth-quarter and full-year sales, the UK retailer said today (6 January).

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Like-for-like sales in the fiscal year ended 3 January grew 4.9%, the Co-op said.


Sales gains were weighted towards the end of the year, with fourth-quarter comparable sales up 5.2% and like-for-like sales growth of 6% over the key three-week Christmas trading period, the company revealed.


“These results represent a good trading performance from our food business in an increasingly competitive market place and a difficult economic climate. We continue to make very good progress in all our target areas with great products, local convenience, good value and responsible retailing at the heart of our customer offer,” CEO Peter Marks said.


Marks said that sales gains were driven by an increased focus on price, an improved offering and a national television marketing campaign.

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“This came on top of continuing new product development and maintaining a leading position in ethical trading,” Marks said.


During the year, the company rebranded and refurbished 700 stores at a cost of GBP200m (US$292.3m). The programme delivered average year-on-year sales growth of 13%, the Co-op said.


“The unprecedented level of investment in store rebranding and refurbishment is paying back ahead of target as customers like the new look and feel of our modernised stores. In 2009, a further 700 stores will be rebranded and refitted,” Marks added.


“This robust performance is particularly pleasing coming ahead of our exciting acquisition of Somerfield, which we will complete in the first quarter of this year. We look forward to 2009 from a position of increasing strength.”