Somerfield enjoys strong sales before Co-op deal completes |
| Friday, 12 December 2008 | |
 Somerfield posted like-for-like sales growth of 5.4% in the six months to 8 November 2008, the retailer said today.Year-on-year sales growth was 2.5% to 28 April, while the previous year sales dipped 2.4%, Somerfield, which is to be bought by the Co-operative (Co-op) group, said. Chief executive Paul Mason said: "Somerfield continues to benefit from the strong execution of our turnaround strategy. "Our clear focus on giving our customers what they want has delivered industry beating like-for-like sales growth for the first half of this financial year." He added: "This transformation of Somerfield places us in the best possible position to benefit from the strong strategic fit and shared vision that the acquisition by the Co-op offers." In the last financial year, the company said it rebranded the entire Somerfield estate and invested £65m in store refits. The Co-op has found up-front buyers for 24 stores after the Office of Fair Trading said it was concerned there would be a lack of competition following the acquisition. Related Articles
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