May 20, 2019 4.42 pm This story is over 30 months old

£5m boost for Lincolnshire Co-op store sales

A solid half year for the community retailer

Lincolnshire Co-op has seen a sales boost of £5 million this year half, with food stores leading the way.

Total sales in the six months up to March 3 went up by 3.4% to £165 million compared to the same period last year.

Food stores saw the biggest growth in sales at 6.5%, with 12.6 million customers visiting in the half year.

Demand for baked goods from local team Gadsby’s also saw a steady rise by 4.3%.

Lincolnshire Co-op will use the sales growth to invest further in services and new developments across its trading estate.

They invested £7.7 million in the same period, with a food store and pharmacy opening in North Hykeham and a funeral home opening in Scunthorpe.

A new food store is also due to open this summer in Lincoln, close to the bus station on the corner of Sincil Street and Normal Street.

Meanwhile travel agency sales went up by 4.1% and pharmacy sales went up by 1.9%.

Sever cuts in income also had a major impact in the half year, with a surplus of £7.1 million even if it is £600,000 lower than last year.

Lincolnshire Co-op’s Chief Executive Ursula Lidbetter said: “We’re pleased to welcome over 12,000 new members to the Society and attract more customers, particularly considering challenging trading conditions.

“Our sales performance shows the quality of our offer across a range of diverse businesses.

“This gives us the confidence to invest in our valued services and keep on using our ideas, energy and resources to work together in our communities on projects that make a difference – from the Cornhill Quarter to reducing energy use in our business.”

Spotted an error? Please notify us by selecting that text and pressing Ctrl+Enter.