Costcutter sales are up 8.75% to more than £533m in the past year. The figures, recently announced by the 1,500-strong symbol group operator for the year ending April 26, 2008, follow double-digit growth in 2006/07.
Costcutter bosses described the figures as 'exceptional' in tough trading conditions. Managing director Nick Ivel said: "We can attribute this achievement to three main factors: our strong retailer focus; the continued success of our TV advertising campaigns; and the increasing number of business partnerships we're developing."
The past 12 months have seen Costcutter restructure its salesforce to cover eight larger regions rather than 12 and expand its sales team with 18 new appointments. This year also saw store numbers break the 1,500 mark. The company described recruitment levels as healthy, but added that it would be concentrating on attracting good retailers to its ranks in 2008 rather than setting specific store number targets.
"We know we offer an unrivalled package to retailers and in 2008 we intend to be shouting about that a lot more," Ivel added. "Our CPoS solution continues to go from strength to strength and we're making great strides with regional suppliers, which allows retailers to capitalise on their localness as well as giving us a point of difference in the sector."