GENERAL MERCHANDISE NEWS
Instore festive sales hit by Woolworths closure
16 January, 2009 | by Retail Bulletin
Group was significantly affected by the stock clearance discounting at Woolworths in the run up to Christmas.
Total sales for the 18 weeks ended 3 January were up 0.52% on last year and down 0.70% on a like-for-like basis. For the final 5 weeks of this period, total sales were the same as last year and down 1.92% on a like-for-like basis.
Instore said that of the 33 Ponden Mill stores originally acquired in December 2007, 13 have now been closed and Instore said it is ‘considering various options for the future operation of this part of the group.’
