Bargain Booze like-for-likes up 0.6% in first half
Conviviality Retail, the owner of off-licence chain Bargain Booze, saw its like-for-like sales rise by 0.6% in the 26 weeks to 27 October.
In a trading statement issued today, the company said the increase was largely a result of a reduction in the number of underperforming stores and improved standards across its store portfolio.
Conviviality Retail chief executive Diana Hunter added: "We are pleased with the performance to date. Like-for-like growth in store sales is encouraging and reflects signs of underlying improvement in the core business. This is a result of the increased focus of our franchisees and a better quality store portfolio, combined with a number of new incentives successfully introduced during the period.”
Having acquired the 22-strong Wine Rack chain in September, Conviviality Retail said the stores were now trading in line with management expectations.
Hunter said: “Wine Rack has bedded in well and we are already seeing the benefits from this acquisition. The Board looks forward to further progress and growth across the business in the second half.”
In the same statement, Conviviality Retail announced that Julie Wirth had joined the business as chief financial officer, taking over from Peter Hodgson who had retired from the business following over 20 years of service.
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