// The Co-op has revealed its sales have soared since acquiring Nisa
// Total revenues up by 14% to £10.2bn
// Like-for-like food sales up 4.4%
The Co-op’s sales have experienced an uptick since its acquisition of Nisa in 2017, which was officially completed in May last year.
In the 52 weeks to January 5, total revenues went up by 14 per cent to £10.2 billion, while like-for-like food sales were up 4.4 per cent, marking Co-op’s fifth consecutive year of growth.
Meanwhile, profit before tax from continuing operations increased 27 per cent to £93 million.
However, underlying pre-tax profits remained at £43 million.
The retailer has also boasted its year of community initiatives by revealing it had returned £79 million to members and projects.
The Co-op also said it spent more £414 million on its business last financial year, including £326 million on investing in new stores.
In its step towards sustainability, the grocery chain introduced the UK’s first compostable carrier bags as part of its initiative to rid of hard-to-recycle plastics.
“The acquisition and integration of the Nisa wholesale business has been a game changer in expanding our food footprint,” Co-op chief executive Steve Murrells said.
Click here to sign up to Retail Gazette‘s free daily email newsletter