To coincide with its AGM, Tesco target Booker Group has posted a 4.2% increase in like-for-like sales in the first quarter of its financial year.
The group said that like-for-like non-tobacco sales were up 9.6%, while tobacco sales were down 7.9%. Total sales at the group went up by 4.0%.
Overall Performance
"Overall, Booker Group had another good quarter,” said its chief executive, Charles Wilson. “Group sales rose by 4.0% on the same period last year, with like-for-likes up 4.2%. Non-tobacco sales grew by 9.6% on a like-for-like basis. Favourable weather and the late Easter assisted this growth. Tobacco sales continued to be adversely impacted by changes in tobacco legislation, down 7.9%, like for like.”
Wilson added that both customer satisfaction and cash profit were “solid” during the period, with Booker Direct, Chef Direct, Ritter and Booker India performing “as we expected”.
Its Premier convenience arm is in growth, while it also continues to make “good progress” with Budgens and Londis.
Tesco Merger
While Booker Group acknowledged that the planned merger with Tesco is currently going through the review process with the Competition Authority, it said that it will “not be making forward-looking statements for the duration of the offer period”.
“Business as usual is going well as we continue to improve choice, prices and service for our retail, catering and small-business customers,” said Wilson.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
