Stores report very different fortunes

17 January 2001



Stores report very different fortunes

By FWi staff

SOMERFIELD plunged in the red over the first six months of 2000, while Safeway Christmas sales beat even the most optimistic city forecasts, reports The Times.

Budget store Somerfield suffered a 70 million reverse at operating level for the six months to 11 November, on the back of a 7.8 decline in comparable sales.

Pre-tax losses stood at 22m.

In contrast Safeway has reported a 6% increase in sales over the festive period, on top of strong growth last year.