The Midcounties Co-operative, the UK’s second-largest independent co-operative, revealed strong Christmas trading results this week.
Like-for-like sales in the three weeks ahead of Christmas were up 6.7% year-on-year. The retailer estimated food price inflation for the period at 3.7%, leaving underlying growth of 3%. In the 13 weeks to 3 January, sales were up 4.8%.
“This is another positive trading performance in our food business which shows how well we are serving the communities in our heartlands,” said chief executive Ben Reid.
“The continuous improvement in our range of quality products and a strong promotional package to give better value for money has shown we can compete with the major players.
“These are challenging times and it is more important than ever for retailers to connect with its customers and we are delighted that an increasing number of people are clearly choosing a locally-owned business.”
The society said sales of meat, confectionery and alcohol had been particularly strong.
Midcounties Co-op shows growth(Convenience Store, 9 October 2009)
Midcounties Co-op swoops for ex-Somerfield stores (7 July 2009)