Falling sales in a “tough” market has profits from The Co-operative Group’s food arm, the UK retailer said today (23 August).
Operating from The Co-op’s food business was GBP119m (US$188.8m) in the half year to 30 June, down from GBP142m a year earlier. The Co-op pointed to “continued investment” in prices, its stores and supply chain.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Sales from its food stores were down 2.2%. Like-for-like sales dropped 1.2%.
“Food’s performance reflected the ongoing tough market, the sale of non-core assets and the impact of unseasonable weather, which disproportionately hits convenience operators,” The Co-op said.
However, The Co-op said like-for-like sales in its new “trial” food stores were up 12%. Looking ahead to the rest of the year, the retailer said it was “on track to deliver 80 new stores” and invest “heavily” in NPD.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
