THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL EVENTS
Christmas Ads
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Booths returns to profit as sales jump to record levels

Food and drinks retailer Booths returned to the black for the first time since 2015 as its sales jumped to record levels during its latest financial… View Article

GROCERY

Booths returns to profit as sales jump to record levels

Food and drinks retailer Booths returned to the black for the first time since 2015 as its sales jumped to record levels during its latest financial year.

The firm has reported a pre-tax profit of £1.8m for the 12 months to March 27, 2021, up from a loss of £4.1m during the prior year.

Its turnover also increased from £267.8m to £284.1m over the same time.

The company, which is still run by the Booth family, serves Cumbria, Lancashire, Yorkshire, Greater Manchester and Cheshire.

The number of employees increased during the year from 3,076 to 3,208, according to documents filed with Companies House.

The last time Booths reported a pre-tax profit was in the year to March 2015.

Since that £1m profit, its losses have varied from between £4.1m and £13.5m.

A statement signed off by the board, chairman and chief executive Edwin Booth said: “The board continued to focus on transforming the business into a multi-faceted retailer, despite the ever-changing lockdown guidelines and are pleased to report that we are on track to restore sustainable profitable growth.

“2020/21 was an extraordinary year in retail grocery and we encountered dramatic shifts in buying patterns which put our logistics, supply and retail teams under extreme pressure.

“It is a testament to the renewed culture throughout Booths that everyone was able to achieve high performance while ‘living in the moment’.

“The early part of the year saw some panic buying with sporadic supply of some staple products while we concentrated on keeping our colleagues and customers safe.

“What ensued was a rollercoaster of restrictions with a Christmas trading period where sales exceeded expectations.

“Throughout the year out suppliers have been a magnificent support and we have done our best to support those who were adversely impacted by the hospitality sector being closed for extended periods.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News