Retail news round-up August 29, 2013: The Co-op reports falling sales and profits; Game eyes online market share and Sainsbury’s outpaces Tesco’s sales.
Co-op reports fall in food like-for-likes as profits plunge
The Co-operative Food has recorded a 1.1% fall in first half like-for-like sales in its food division while group profits were dragged down by its banking division.
The mutual’s food arm reported a fall in operating profits from £119m last year to £117.4m this year. Total group losses were £356m as the mutual’s struggling banking arm impacted earnings.
Game aims to grow its share of online games market to 30%
Video games retailer Game hopes to grow its share of online video games market to 30% in channel by the end of 2013. The retailer plans to introduce new services and cloud-based technology to achieve this goal, MCV reported.
Game, which currently attracts 800,000 visitors a week, has historically lagged in online presence but expects to pick up pace. The retailer has invested heavily in its apps, and has launched new online services, such as a PC download store.
Sainsbury’s outpaces Tesco to record strong sales growth
Sainsbury’s enjoyed stronger growth than archrival Tesco over the last quarter, according to Nielsen data.
The data showed Sainsbury’s recorded 5.1% sales growth, Tesco 3.9%, Asda 2.2% and Morrisons 1.6% in the 12 weeks to August 17.
Aldi recorded 23.7% growth, Waitrose 9.9%, Lidl 7.5%, Marks & Spencer 6.8%, Iceland 6.1% and The Co-op 1.7%, Nielsen said. The data backs up figures from Kantar Worldpanel which also showed Sainsbury’s is performing the strongest of the big four grocers.