Local grocery chain Somerfield has revealed strong like-for-like sales for the 12 weeks to Easter, as it continues its extensive store refurbishment programme.
The up-for-sale 900-store chain posted like-for-likes up 6.4 per cent, excluding petrol, for the period to March 20.
Somerfield chief executive Paul Mason said: “Customer numbers are in strong growth and we have outperformed the food retail industry, as measured by IGD, for 16 of the past 20 weeks.”
Somerfield said it will refit 200 stores in the next 12 months, in addition to the£100 million it has spent refurbishing 250 stores in the past year.
Alongside the investment, Somerfield has continued to dispose of stores not aligned with its strategic objectives. Today, it revealed it has agreed to dispose of seven stores to Tesco.
Somerfield also plans to open 250 stores in the next three years. Today (March 27), it revealed plans to open three stores in Hove, Bristol and Hopton-on-Sea, Norfolk next month.
The owners of Somerfield have put it up for sale and are seeking a price of between£2 billion and£2.5 billion. However, it has only received one firm bid from the Co-operative Group that is below the asking price, said a source close to Somerfield.
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