Lancashire food and drink retailer Booths says it is bouncing back despite recording another trading loss.
The firm which had its first premises in Blackpool, has more than halved its losses as it continues to transform the business with a revised plan and revitalised executive team.
It’s 2018 year end report shows losses before taxation were more than halved to £5.5m – against £13.5m the previous year.Ove
rall sales declined by two per cent or £5.3m.
However, it said its performance was not year on year comparable due to a 53 week reporting period and non-comparable Easter trading periods.
It said underlying comparable sales were only down 1.3 per cent or £3.3m year on year, with the majority of this decline confined to the six month period ended September 2017.
Chairman and chief executive Edwin Booth said: “I am very proud of the progress our teams have made in the last 12 months, improving the customer experience in stores, delivering great value produce, cultivating new markets and rediscovering what makes Booths a special retailer.
“Our focus, as ever, is to work with our colleagues to deliver the best products, value and service to our customers.”
Booths said it had invested in strategic competitive pricing in more than 250 core lines in a bid to offer greater value to customers. It said transactions and sales had improved through the second half of 2018 with growth now returning to the business.
It was aiming for further growth in the continued development of the range of Booths branded products. It said the range had doubled in size and now included more than 1,000 lines.
The firm said its brand products continued to perform well in awards, winning 11 Great Taste Awards, 19 commendations at the World Cheese Awards and 19 International Wine Challenge medals.
It said the agreement to supply Booths brand products to Amazon continued to support growth and it would continue to invest in the update of its 28 store estate.