Sales of True Value members are up

The US cooperative True Value increased its sales in the first nine months of its fiscal year (ended 1 October 2011) by 2.6 per cent to US$ 1.4230 bn. Sales in the third quarter rose by 3.6 per cent to US$ 445.7 mio. The added retail sales of cooperative members increased by 4.1 per cent. When presenting the quarterly results, president and CEO Lyle Heidemann stressed that the cooperative was investing in modernisation of the retail outlets. This year 7 300 m2 of retail area has so far been changed over to the Destination True Value distribution format recommended by the central office. According to Heidemann, retailers working with this format are achieving nine per cent higher sales than the other stores.