Family-owned UK retailer Booths, which chiefly trades in the North of England, has reported underlying trading profits of £2.6 million (€2.9 million) for the full year.
This compares to a profit of £3.1 million (€3.47 million) the previous year, and follows on from storm damage that forced the temporary closure of a couple of its stores, including its most successful outlet, in Keswick.
Commenting on its performance, Zoë Mills, Analyst at Verdict Retail, said, “Booths outreach is currently fairly limited, operating in just 28 stores across Lancashire, Cumbria, Yorkshire, Cheshire and Greater Manchester. Improving its online credentials in the future will be important if it is to combat the advance of competitor Waitrose, and the expansion of online food business such as Ocado.
“In terms of ranges, Booths excels in its Christmas offering, which is available to purchase online for both click & collect as well as home delivery to locations across the country, beyond just its northern heartland. The retailer’s focus on its festive offer has so far been highly successful in boosting pre-orders of Christmas food by 30% on last year.”
Mills added that despite Booths’ “ambitious targets to double the sales if its own-label over the next five years, its uniquely premium position in the market might be an obstacle to making significant share gains, despite a more recent focus on price and value.”
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
