Booths cuts losses as revenues reach record levels

Booths
GroceryNews

Booths cut its losses during its latest annual results as sales soared at the upmarket supermarket.

The grocer losses fel from £4m to £1.5m in the year to the end of March, after last posting a pre-tax profit in April 2022.

Revenues hit £318.7m, surpassing £300m for the for first time in the retailer’s history.

Booths benefitted from a combination of increased footfall, basket spend and  “record” Christmas revenues.



It added that scrapping self-scanning checkouts across stores had proved popular with shoppers.

The supermarket said: “The financial year continued to see the challenges of high inflationary pressures, high interest rates and cost-of-living challenges experienced by all, albeit at reduced levels compared to financial year 2022/23.

“Against this background we are pleased to report results above those planned at the beginning of the financial year thus providing a continued sustainable platform for future growth.”

“This was again achieved by staying true to our purpose through which we aim to inspire and nourish our customers’ desires for delicious food and drink.”

Click here to sign up to Retail Gazette‘s free daily email newsletter

GroceryNews
GroceryNews

Share:

Booths cuts losses as revenues reach record levels

Booths

Social


SUBSCRIBE TO OUR DAILY NEWSLETTER

  • This field is for validation purposes and should be left unchanged.

Booths cut its losses during its latest annual results as sales soared at the upmarket supermarket.

The grocer losses fel from £4m to £1.5m in the year to the end of March, after last posting a pre-tax profit in April 2022.

Revenues hit £318.7m, surpassing £300m for the for first time in the retailer’s history.

Booths benefitted from a combination of increased footfall, basket spend and  “record” Christmas revenues.



It added that scrapping self-scanning checkouts across stores had proved popular with shoppers.

The supermarket said: “The financial year continued to see the challenges of high inflationary pressures, high interest rates and cost-of-living challenges experienced by all, albeit at reduced levels compared to financial year 2022/23.

“Against this background we are pleased to report results above those planned at the beginning of the financial year thus providing a continued sustainable platform for future growth.”

“This was again achieved by staying true to our purpose through which we aim to inspire and nourish our customers’ desires for delicious food and drink.”

Click here to sign up to Retail Gazette‘s free daily email newsletter

GroceryNews

RELATED STORIES

Latest Feature


Menu


Close popup