Friday, August 19, 2022

Strong wine sales boost Conviviality Retail profits

Bargain Booze owner Conviviality Retail, which is currently in talks about a reverse takeover with wine wholesaler Matthew Clark, enjoyed a rise in revenues and profits for the year to April 26.

The off-licence and convenience store group recorded a 2.4% increase in revenues to £364.1m for the 52 weeks ending 26 April 2015. This was in spite of the fact that like-for-like sales dipped by 1.7% over the same period.

During the period, Conviviality Retail acquired 31 Rhythm and Booze stores and 47 GT News stores, of which 42 were subsequently franchised. The size of its store estate, which also includes Wine Rack shops and Thorougoods convenience stores, also increased by 29 to 624 sites.

Diana Hunter, Conviviality Retail Chief Exec, said: “This is a strong set of results reflecting the hard work of our employees, franchisees and suppliers. Franchisees will remain at the heart of our business, as we continue to work together to blend the entrepreneurial skill of the franchisee with the branding, ranging and wholesale expertise of Conviviality.

Looking forward, we will continue to help more of our franchisees grow their existing business while also working to attract new franchisees to the group. The board looks to the future with confidence.”

Last month Bargain Booze engaged in light-hearted competition, launching that ‘Aldi Schmaldi’ campaign to show that it sells big brands at the same price as grocer Aldi’s own range.


Please enter your comment!
Please enter your name here