Safeway like-for-likes up
Store revamp programme pays off in tougher market
July 9 2002
Safeway is to seeing the benefits of its improvement programme, as growth in its revamped stores overtakes sales lost through closures for refurbishment.
The fourth biggest UK supermarket group said that sales improved further toward the end of its first quarter, with like-for-like sales up from 2 per cent to 4 per cent. Overall growth across the quarter was three per cent.
With the supermarket sector becoming even more competitive, price cuts reduced the growth figure by 0.7 per cent.
Chief executive Carlos Criado-Perez has implemented a store improvement programme which uses elements such as dynamic produce displays and front-of-house food preparation to make the store exciting.
Safeway has been the subject of a series of takeover rumours, with Carrefour of France and UK market leader Tesco among the contenders mentioned most recently, However, the management team led by Criado-Perez insists it wishes to remain independent.
Last week, the company bought out the remoaning 50 per cent stake in its Irish operation.
