UK retailer the Co-operative Group has revealed that sales have been positive despite a “very tough” trading environment.
The Co-operative Group's chief executive Peter Marks, speaking on BBC Radio 4, said the group’s “diverse” business meant that some areas were fairing better than others.
Mr Marks commented: 'It is very tough at the moment; we are a diverse business so different parts of our business have fared differently.
“However, food is fairly resilient and retail food is our biggest business, which has performed extremely well.
“We are going through a big change,' he added. 'We are integrating Somerfield which we bought, and we are also investing heavily in our shops and stores to modernise them.
“We are benefiting from this investment and our like-for-like sales performance has been very good. We recorded a record profit last year and we are going to do pretty much the same this year.'
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