Jersey based food group Le Riche is taking on competitors in the Channel Islands with heavy investment in store refurbishment and new space. The group has just opened a 52,000 sq ft Checkers hypermarket at Admiral Park in Guernsey and refitted the smaller Checkers in Jersey before the Channel Islands Co-op opens a superstore in Jersey on November 29. Both Safeway stores on the islands are being overhauled next year, and the co-op is also planning major new developments in Guernsey. Le Riche's Red Houses outlet at St Brelade, Jersey, will be knocked down and replaced with a state of the art food retail store in 2002 ­ a move that will dent the profit and loss account in the coming year, but pay off in the long term, said Le Riche Stores md Kevin Keen. First-half results at Le Riche "exceeded all expectations," with like-for-like sales at the group's Checkers, Stampers and Le Riche food stores up 8% against estimated grocery price inflation of 2%. Group pre-tax profit rose 1.2% to £4.9m on turnover up 7% to £78.7m for the 28 weeks to October 6. {{NEWS }}