UK convenience retailer Costcutter has booked an increase in first-half sales and set a new target of Kwiksave store openings for the end of the year.
The group recorded a 4% year-on-year increase in sales in the six months to the end of June, boosted by the recruitment of more independent retailers and the roll-out of new formats.
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Costcutter has launched a number of formats this year including the upmarket myCostcutter banner, the trial of a Rhythm & Booze off-license franchise and a new Kwiksave fascia
The retailer said 112 new retailers joined the group in the first six months of 2012, with a further 41 set to join “imminently”. It also revised its target for new Kwiksave stores upward.
“We opened the first Kwiksave store in May 2012 and in September we will open our sixth store,” said Sir Michael Bibby, managing director of parent Bibby Line Group. “The target was to have 12 stores by the end of the year, however the new format store is proving so popular we are on course to open 20 stores by Christmas.”
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By GlobalData
