Costcutter Verdict Company Briefing
Report description
Costcutter has seen a vast amount of change over the past year, being taken over by Bibby Line Group, the departure of its Chairman and founder, and the replacement of its CEO. The coming twelve months will be crucial for the growth of the business as it seeks to expand with its new three tier offer, providing symbol retailers with the option of a value, standard and premium fascia.
- Benchmark your performance in food & grocery with detailed key performance indicators across sales and space data for Costcutter
- Plan your expansion strategy by understanding how and where Costcutter has increased its store portfolio, and the impact this has had on densities
- Develop your fascia strategy by understanding Costcutter's three tier model, and assessing its effectiveness in symbol retail
- As a wholesaler or supplier, identify the potential of Costcutter as a new retail partner by understanding its strategy
In November 2011, the majority shareholder in Costcutter, Bibby Line Group, acquired the remaining 49.0% stake in Costcutter from the management, giving it full ownership. This will enable unfettered management control and application of strategies to compete with the convenience format stores of larger multiples and other symbol groups
Costcutter has resurrected the kwiksave brand following a five year absence from high streets. Costcutter launched the fascia as the value option in its three tier offer, below Costcutter and myCostcutter. It offers lower prices to customers than the standard and premium Costcutter fascias, with a more basic shopfit and edited range of products
In September 2012, Costcutter announced the appointment of Darcy Willson-Rymer as its new CEO replacing former CEO Nick Ivel. Mr Willson-Rymer is formerly of collapsed greetings card retailer Clintons, and was previously managing director at Starbucks UK.
- How will Costcutter's food & grocery sales grow in 2013, and what impact will this have on market share
- What are Costcutter's plans for expansion over the coming years, and how will this contribute to sales growth
- How will Costcutter's three tier offer impact the rest of the convenience market
Table of contents
•Introduction
•Summary
New fascias set path for expansion;
Growth reignited as independents seek refuge;
Three tier offer will aid membership drive;
Space growth drives food sales;
Full acquisition gives scale;
Market shares will see first increase since 2005;
New buying deal in the pipeline: choices include Morrisons.
COSTCUTTER
•New fascias set path for expansion
•Recent key events
Acquisition sparks changes and gives scale
•Financials
Growth set to continue as independents seek refuge
•Space
Three tier offer will aid membership drive
•Sector performance – food & grocery
Space growth drives food sales
•Market shares
First uplift since 2005
•Outlook
New buying deal in the pipeline
METHODOLOGY
•Verdict company briefing
•Financial information
Market size calculation
Sales density calculation
•Further reading
•Ask the analyst
•Disclaimer
TABLES
•Table: Costcutter company information 2012
•Table: Costcutter key operating statistics 2008–13e
•Table: Costcutter trading record 2003–13e
•Table: Costcutter UK store profile 2003–13e
FIGURES
•Figure: Costcutter fascias 2012
•Figure: Costcutter's new tiered fascias 2012
•Figure: myCostcutter, Insch, Aberdeenshire 2012
•Figure: Kwiksave fascia and shopfit 2012
•Figure: Costcutter UK sales and y-o-y change to December 2008e–13e
•Figure: Costcutter food & grocery sales for calendar years incl VAT 2008–13e
•Figure: Costcutter food & grocery sales per sq ft for calendar years incl VAT 2008e–13e
•Figure: Costcutter share of market held by food & grocery retailers 2008–13e
•Figure: Costcutter share of market for food & grocery products 2008–13e
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