UK retailer Somerfield has posted a 3.7% hike in like-for-like sales over the Christmas period.
Go deeper with GlobalData
The company emphasised the strength of sales gains across its smaller stores during the three weeks to 1 January. Somerfield said sales increased by 10% year-on-year at stores smaller than 5,000 sq ft.
A spokesperson for the company attributed this strong performance from smaller stores to “various factors”, including the overall growth of the convenience market in the UK and changes to product assortment.
Commenting on the results, chief executive Paul Mason said: “These figures clearly demonstrate the turnaround that has been achieved at Somerfield — and provides an excellent platform going forward for the combined Somerfield and Co-operative Group businesses.”
Having gained competition approval, the Co-op is expected to complete its GBP1.6bn (US$2.74bn) acquisition of Somerfield in the next month.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
