Booths reports 0.5% growth in sales to £259.33m in the year ending 30 March 2019, in a report filed to Companies House. The business experienced a trading loss of £1.2m, an improvement on last years result of £2.2m.
Booths FY2018: return to growth
Booths reports 0.5% growth in sales to £259.33m in the year ending 30 March 2019, in a report filed to Companies House.
The result marks a return to growth for the north-west based regional UK supermarket after five years of negative sales. Last year the retailer reported a -2% decline in sales to £258.1m for FY2017.
The business experienced a trading loss of £1.2m, an improvement on last years result of £2.2m., driven principally by growth and good cost control.
The results follow the news that Simon Booth, supply chain director, is set to leave the business after 44 years.
Transformation programmers delivers benefits
The performance reflects the retailer's investment in modernising its proposition, which has included a focus on renewing its stores, shaking up its exec team, price competitiveness, improving the food-to-go offer and quality of private label products.
The retailer began to see the benefit of its transformations, experiencing a promising Christmas 2018, where LFL sales grew 3.3% and profit increased 4.5% in the three weeks to 5th January 2019.
In the report, Booths calls out its efforts towards sustainability and measures it has taken to reduce single-use plastics throughout the business. This has included replacing plastic bottles and aluminum cans with glass items in its cafes and introducing a new multi-use 'Bag for Life' made of 90% recyclable content. These measures will help Booths to stand out for upholding its sustainability commitments.
Edwin Booth, Chariman and CEO, commented on the changes "Our ability to combat and invest in price and service bears witness to the changes we have made to our management structure and the focus of our teams on delivering the magic that exists around the Booths way of doing business, its people and product range. The ensuing year will see the continuation of work to grow profitability despite all the competition we encounter."
Want to know more?
Retail Analysis subscribers can read and download our latest store visit report from Booths, Media City here.