UK supermarket operator Somerfield has reported group like-for-like sales growth for the full year of 1%.
Go deeper with GlobalData
The group’s total sales for the year to 26 April were up 0.7% to £5bn (US$8bn). While the group’s Somerfield chain of stores experienced full-year like-for-like sales growth of 0.9%, its Kwik Save chain posted full-year like-for-like sales growth of 1.2%, reported Dow Jones International News.
The group said eight new concept stores were opened at Kwik Save in the second half of the year, adding to the six already opened in the first half. The first group of six stores has maintained its sales uplifts, while the second group is also performing well. Both groups of stores are trading substantially above their pre-refit sales.
Somerfield recently turned down a takeover offer by retail entrepreneurs John Lovering and Bob Mackenzie because it said the bid undervalued the group.
