Musgrave retailers have called for swift action and more collaboration following the group’s poor UK performance.
In its financial results for the year ended 31 December 2013, the group’s overall profit was €60m, down 16% on the previous year. This drop was largely attributed to its GB sales dropping 3% year on year.
In its financial report, Musgrave pledged a turnaround for its GB business, led by new managing director Peter Ridler, who is set to replace Donal Horgan.
One retailer who did not wish to be named said the results were “expected” and urged Musgrave to do more to reassure its members about this turnaround. He added: “There have been a lot of changes recently and that has caused some problems. Something has to be done quickly to keep retailers reassured that action will be taken soon. A lot of worry could be avoided if they talked to us more.”
Another Musgrave retailer said that it was more important than ever for the wholesaler and its members to work together. “The multiples have put the convenience sector in their sights and a partnership approach is essential right now. Musgrave is trying to improve the situation, but we all need to work together to succeed.”