Scottish SPAR wholesaler and convenience retailer CJ Lang & Son has revealed that it saw a rise in sales and underlying profits during its last financial year, driven by its growth strategy.
For the year ending 30 April 2020, the Dundee-based group saw its turnover increase by 3.4% to £194.2m. Underlying pre-tax profits doubled to £1.5m. The results included the impact of the early stages of the coronavirus pandemic which saw an increase in demand in the final six weeks of the financial year as people shopped locally in convenience stores.
CJ Lang & Son’s CEO Colin McLean commented: “The onset of COVID-19 at the end of the last financial year, and the subsequent months that followed, have seen the retail landscape completely change. Our primary focus has been the continued wellbeing of our staff and customers and we have invested in our stores, distribution centre and offices to ensure that we have created safe environments for all.
“Being solely Scottish focussed has enabled us to adapt quickly and react flexibly to the changing retail landscape whilst continuing to provide a first-class service to our independent retail customers, consumers and communities at a time when they have needed us most.”
He added: “Prior to the onset of COVID-19 our business was already growing, buoyed by the development of our food-to-go offer; a continued focus on improving and implementing consistent store standards; the development of our independent retailer customer base; and improvements to our offer in order to meet the changing customer needs within convenience retailing.
“We have continued to implement our strategy for profitable growth developed last year, but we also have had to take further difficult decisions to improve the overall profitability of our business.
“Whilst the retail landscape is ever-changing, we continue to follow our long-term strategic path, driving our back to basics programme, balanced with initiatives to improve our offer and attract more independent retailers to SPAR Scotland.”
NAM Implications:
- Wholesaling, food and convenience says it all…
- A flexible response to changing retail and consumer buying behaviour.
- Perhaps you need to cultivate such wholesalers?
