A growth in convenience stores sales has enabled The Co-operative Group to increase its profit despite ongoing debt struggles in its banking division.
The group reported a 3.3 per cent increase in total food sales for the first half of the year.
Convenience store sales, which account for 40 per cent of food sales, have risen seven per cent, with newly-refitted stores showing a 12 per cent growth in sales.
Chief executive Martin Beaumont called the strengthening sales a “major improvement in performance” at a time when the Co-op is still selling off secondary businesses in a bid to recover losses.
The news follows the group’s announcement last month of a three-year revamp of its branding to present a singular, recognisable identity throughout its various divisions
