Somerfield like-for-likes improve
Recovery programme paying off
September 5 2002
Supermarket operator Somerfield is seeing signs of improvement at both the Somerfield and Kwik-Save chains.
Like-for-like sales across the group were up 2.1 per cent in the eight weeks to the middle of August, with like-for-likes up 0.4 per cent at Somerfield and a healthy 4.4 per cent at Kwik-Save, which has seen concerted promotional activity.
Excutive chairman John von Spreckelsen said: “The board is continuing to implement the recovery programme by concentrating on the improvement of the customer offer in both fascias. Current capital expenditure is directed into the successful store refit programme in the Somerfield fascia, minor refits and new trial stores at Kwik Save, as well as supply chain and IT systems improvements. Construction on the new North West Depot site started in August 2002.
“I indicated at the July results announcement that we expected like-for-like sales to improve in the second quarter of the current year and recent performance has improved from -2.6 per cent in the first 8 weeks to +2.1 per cent in the second eight weeks of the first quarter. The recent Kwik Save performance has been enhanced by a strong promotional programme.”
