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Costcutter posts strong growth and retailer recruitment

22 August, 2012

Costcutter Supermarkets Group has posted a 4% year-on-year increase in sales in the first six months of 2012 and added another 112 new accounts from January to July.

In addition, the symbol group has a further 41 pending accounts, which will begin trading imminently. Supply deals with several large groups are also due to commence in the coming weeks, along with a series of smaller acquisition targets identified to boost the company-owned store portfolio.

Nick Ivel, chief executive of Costcutter Supermarkets, said: “Despite continuing to operate in a tough economy Costcutter has continued its year-on-year growth. These latest performance figures underline the excellent work being done by our retailers and everyone within the business.

“Retailer recruitment is buoyant,” he added. “We are seeing more and more independent retailers joining a symbol group for the first time and our recruitment of retailers from our rivals is also increasing.”

The launch of Costcutter’s three-fascia strategy has also proved successful with store openings well ahead of target. And the soon-to-launch Rhythm & Booze franchise, which is currently being trialled, is hoped will set the standard for independent off licenses and draw on Costcutter’s knowledge within the symbol group sector.

Sir Michael Bibby, Bt., managing director of Bibby Line Group, said: “We opened the first Kwiksave store in May 2012 and in September we will open our sixth store. 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.”