Midlands announce sales rise

MIDLANDS Co-op&#039s end-of-year results (53 weeks to 28 January) reveal an increase in underlying sales of 2.8% to &#163 680 million, but a &#163 3 million drop in...

MIDLANDS Co-op&#039s end-of-year results (53 weeks to 28 January) reveal an increase in underlying sales of 2.8% to &#163 680 million, but a &#163 3 million drop in the society&#039s trading profit.
The society say that, while this financial year saw the first real impact of the national slowdown in consumer spending and confidence – as well as an increase in new competition – its strategy of long-term investment in shops, services, people and systems has paid off by delaying some of the impact already experienced by other retailers.
In the past 12 months over &#163 21 million has been invested in growth including two new stores in Birmingham, and Kibworth Beauchamp in Leicestershire plus a travel shop in Anstey, Leicestershire.

• Further details in the next issue of Co-op News, published 4th April.

In this article


Join the Conversation