THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Iceland upbeat after year of major investment

Frozen food retailer Iceland increased its sales by 2.7% to £2.711 billion in the year to 29 March 2014.

GENERAL MERCHANDISE

Iceland upbeat after year of major investment

Frozen food retailer Iceland increased its sales by 2.7% to £2.711 billion in the year to 29 March 2014.

Adjusted EBITDA excluding exceptional items was £202.2 million compared £226.3 million in the previous year as the retailer invested in opening new stores, launching an online shopping service and expanding in overseas markets.

On a like-for-like basis sales were flat in the period.

Iceland opened 46 new stores in the UK to take the total number of shops to 833 at the year end. It also launched an online shopping service which was extended in November 2013 with the launch of Iceland Appliances in partnership with AO.com.

During the year the year, the retailer acquired previously franchised Iceland stores in the Republic of Ireland and entered strategic export markets in Africa and the Middle East. It also opened a further two stores in the Czech Republic where it was operating in three locations by the year end.

Iceland chairman and chief executive Malcolm Walker said: “This has been a year of major investment for Iceland both at home and overseas. In the UK we accelerated our expansion programme with the opening of 46 new stores and also rolled out our online shopping offer to 280 stores. Overseas we began to serve important new export markets in South Africa and the Middle East, acquired the formerly franchised Iceland stores in the Republic of Ireland and opened two additional stores in the Czech Republic.”

Iceland created 1,500 new jobs in the period and expects to create 1,250 in the current year as it opens up to 40 new stores in the UK.

Looking ahead Walker said: “We will continue to invest to provide value to our customers, and identify and exploit opportunities for further development of the Iceland brand internationally.“

 

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
Fix The Dinosaur Roundtable 2018
Fix The Dinosaur Roundtable 2018
19 October 2018
The Euston Suite, The Hallam, 44 Hallam St, London W1W 6JJ
A Masterclass in IBMi Legacy Issues