Nisa Reveals Strong Fourth Quarter Trading Figures

Nisa Retail has reported robust trading figures for its fourth quarter period to 2 April 2017, bolstered by recent improvements in its offer.

Like-for-like sales during the period rose 2.2% with total sales hitting £299m. Non-tobacco like-for-like sales climbed 4.9% to £210m, whilst tobacco sales slipped 3.1% – better than the wider market.

The group said sales were driven by strong growth in member numbers with 225 new stores in Q4, compared to 113 last year (Net of losses, this was 160 vs 46). At the end of the period, the total number of retail sites served by Nisa was 3,466.

Nisa said it was also benefitting from its improving offer, which has included more investment in price and promotions, consumer leaflet development and its growing own label range.

The group expects EBITDA for its full financial year to hit £8.5m, up from £7.3m last time around and in line with its targets.

CEO Nick Read commented: “I am very happy to see sales and recruitment on an upward trajectory, giving us real momentum coming out of Q4. I am pleased to report further progress against our 3-year strategic plan to focus on Heritage, range optimisation and lowering our cost to serve, while targeting greater scale.”