Irish convenience retailer Centra, which is part of the Musgrave Group, has reported a 2.5% increase in sales in full-year 2021, to €1.98 billion.
The group said that its performance was driven by its own-brand ranges, its Frank and Honest coffee offering, and freshly prepared meals.
'Redefining Convenience Retail'
“We have seen significant growth driven by increasing consumer demand for healthy and high-quality own-brand products at reasonable prices," commented Ian Allen, Centra managing director. "We are continuously redefining convenience retail to ensure we satisfy the evolving needs of our shoppers by offering market-leading ranges."
Allen added that the group is "acutely aware" of rising cost of living challenges in the market at present, and the retailer is "working hard with our suppliers and retail partners" to deliver value for shoppers.
Private label continues to be a strong performer for the business, with its Inspired By Centra range seeing a 40% increase in sales last year, while its Freshly Prepared range was also up 40% on the previous year.
In addition, Moo’d Ice Cream, its in-store ice cream concept, recorded sales of €10 million, up 52% on the previous year.
Expansion Plans
Centra also announced a €25 million expansion programme, which will see the opening of 18 new stores over the course of this year, creating 430 new jobs.
This is on top of the 11 stores the group opened in 2021, as well as a €17 million investment in revamping existing stores.
According to a recent report by economist Jim Power, the financial contribution of Centra stores on the Irish economy is valued at an estimated €646.7 million.
“The economic impact report highlights the hugely positive role Centra continues to play in providing support and employment to localities nationwide," Allen added.
Pictured are Ciaran Mangan, Centra Council Chair; Ian Allen, Managing Director Retail; and Cormac Dawson, Centra Sales Director.
© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
