Co-operative Eroski has reported a net loss of E36m (£28.8m), a 44% improvement on the loss of E64.6m (£51.6m) the previous year. The retailer has now made a loss for four consecutive years as it continues to be hit by high level of debt and a weak economic environment. It has continued a debt reduction drive through the sale of non-core assets, which has allowed the company to reduce debt by E291m (£232.7m). Gross sales reached E6.64bn (£5.31bn), representing a 3.2% decrease compared with last year, due to a price reduction in the most popular items and a smaller store count following a series of store closures and disinvestments.
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