The Co-operative Group Reports Solid Trading Results For The Fourth Quarter Of 2010

The Co-operative Group, the UK’s largest mutual retailer, today announces a solid trading performance for the fourth quarter, against the backdrop of a tough trading environment, exacerbated by the severe weather conditions.

Food store exteriorAcross the Trading Group – which encompasses all Co-operative Group retail businesses, but excludes financial services – like-for-like sales fell by 0.6%* in the 13 weeks to 1st Jan 2011. In Food, like-for-like sales fell 3.2%, as a result of the impact of the extreme weather on both footfall and spending patterns across the Group’s national network, as well as the planned acceleration of the programme to convert Somerfield stores to The Co-operative Group fascia. During the period close to 200 stores were closed on average for seven days a time to allow for
full refits. Despite this the core convenience estate, which includes both Co-operative & Somerfield stores, saw like-for-like sales increase by 2%.

Combined like-for-like sales in the Group’s non-food businesses increased by 12.1% with particularly strong sales performances from the online electrical, motor and travel operations.

Peter Marks, Group Chief Executive, said “We have delivered a solid trading performance across our retail businesses in a difficult environment. The exceptionally cold weather created logistical issues for our food stores – particularly given the sheer scale and geographic spread of our estate. Our people worked exceptionally hard to ensure that we provided a great service to all our customers – and the strong performance of our core convenience estate is a testament to all their efforts.

“The planned acceleration of the Somerfield conversion programme was an added issue– but this continues at pace and we remain on track to complete the process by Spring 2011.

“The performance of our non-food businesses was very strong overall and, together with the excellent progress made by our financial services business, we are confident that 2010 will have proved to be another record year for The Co-operative Group.”

The Co-operative Group is one of the UK’s leading businesses and the world’s largest consumer-owned co-operative. The Group is the fifth biggest food retailer and the leading convenience store operator and The Co-operative Financial Services runs the largest “super mutual”.

Other interests include the third largest retail pharmacy chain, the number one funeral services business, Britain’s biggest farmer and a leading travel agency. The Co-operative Group employs 120,000 people, and has over 6 million members. As well as delivering on its financial and operational goals which also include various corporate social responsibility matters such as environmental awareness and global poverty, The Co-operative Group aims to deliver on its social goals, playing an active part supporting local communities and the wider world.

Via EPR Network
More Retail press releases

Hunter, A Top Brand, Up There With The Ugg Boot

Premium Wellington boot brand, Hunter, enjoyed a busy year in 2010 with sales rocketing and the brand being in particular demand during the cold snap when customers sought out these hard-working and reliable boots to get them to their destinations during all the snow in December. Not only are they waterproof and the perfect choice for wearing in the snow and cold weather, they have become an official fashion item too.

The Hunter brand has considerably increased in popularity over the past few years as they have gradually made their way into every wardrobe of any self-respecting young person who likes to think they know a thing or two about fashion trends. It was reportedly one of sale aggregators ‘Most Clicked-On items of 2010’ and trusted website Begorgeous.com has apparently commented that Hunter wellies are the‘ultimate choice’ of winter footwear so that’s not a bad start to 2011, not least because there are still officially around six weeks of winter left to go and as we have seen, anything can happen in this country with the weather.

With the Hunter brand becoming more popular than ever before you might want to grab yourself a great pair from the extensive range of gorgeous glossy black styles such as the tall or short gloss originals, or go upmarket with a beautiful pair of Regent Savoy patent quilted Hunter Wellies (far too mice to wear to take the dog out!) that would look at home in the city as well as in the country.

The styles on offer from Hunter these days are endless and thanks to the young style icons such as Alexa Chung (television presenter, model and contributing editor at British Vogue) and Kate Moss (long time English model and designer for TopShop) as well as many others seen regularly sporting this very British brand of boot it can’t help but do the sales of Hunters the world of good.

Many young girls take their cue and inspiration from these stylish celebs and with technology being what it is today with the world of social media and networks like Twitter and Facebook as well as instant news being at our fingertips 24/7, good news travels fast and the fact that Hunter is one footwear brand that just looks so stylish, people want to wear their boots and be seen in them and talk about how great they are to their friends and so the news spreads and here we are today predicting another great year ahead for this ultimate British footwear brand with its rich heritage and exciting future.

Via EPR Network
More Retail press releases