Nisa Retail Limited has reported a strong Q4 trading performance for the 14 weeks ending 3 April, 2016, in which sales grew by 4.9 per cent year on year, to be worth £327.5 million (€410 million) and volume grew by 5.8 per cent.
It says that performance was boosted by an improving offer, as well as an increasing number of new store openings during Q4, in which Nisa opened 111 new outlets, including 41 in the symbol group and 70 across the Independent and Specialist segment.
It has also been helped by the wholesale retail group's ongoing turnaround strategy, which began in February of 2015 when Nick Read was appointed CEO, and has led to improved performance, an enhanced trading margin, better distribution efficiencies, and reduced overhead costs.
Robin Brown, CFO of Nisa Retail Limited, commented, "2015/16 was a challenging year as the new executive team, strongly supported by all employees, focused on stabilising Nisa, while restoring confidence and profitability to the business. Considerable credit is also due to our Members for remaining loyal throughout the year.
"Our retail teams have enjoyed a positive year of recruitment, boosted by a pleasing fourth quarter, which is testament to the faith members place in the long term future of Nisa’s mutual model and its unrivalled offer, making Nisa the partner of choice for independent retailers."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Jenny Whelan. To subscribe to ESM: The European Supermarket Magazine, click here.
