Nisa sales boosted by demise of Palmer & Harvey
In addition to “excellent” new member recruitment, the retailer said the increase was driven by its investment in price, promotions and consumer leaflet development, as well as the success of its own label range.
In the 13 weeks to 1 April, Nisa’s service capability helped recruit 1,039 new stores following the demise of competitor Palmer & Harvey. Its core business attracted a further 76 new stores.
Arnu Misra, interim chief executive of Nisa Retail, said: “Following a very strong Christmas period, our sales and recruitment numbers have continued to perform strongly, giving Nisa positive momentum as we enter our new financial year.”
However, like-for-like sales over the period were down 1.1%, although in the last six weeks to 1 April they improved to an uplift of 0.5%.
EBITDA growth was in line with expectations.
Misra added: “Market conditions continue to be extremely challenging, and Nisa remains focused on ensuring its members are best placed to serve their customers and communities for the long term.”
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