Further sales slide at Iceland
Big Food Group pushing ahead with store revamps
Like-for-like sales at food chain Iceland continued to slide in the 13 weeks to July 2, as owner Big Food Group pushed ahead with it programme of store refits.
With total group like-for-likes down by 0.5 per cent across the quarter, the company said that in continued tough trading environment “strategic developments across all business units have been progressed” including the acceleration of the Iceland refit programme, and increased penetration of the convenience store sector by the Booker cash-and-carry business through its Premier.
Big Food warned that price competition has increased in the industry over recent months and it “expects the more competitive environment to continue for the foreseeable future”.
Iceland like-for-like sales declined by 1.7 per cent across the quarter. Forty more store refits were completed and three new stores opened, bringing the number trading in the new format to 185.
New Iceland managing director Andy Clarke “is now concentrating on the sales performance of Iceland through a combination of measures to improve customer service standards”, said the company.
At Booker, like-for-likes declined by 1.1 per cent, with non-tobacco sales down by 1.8 per cent.. However, like-for-like sales to the Premier retailers by around 7 per cent, with another 131 retailers joining the badged group to bring the total to 1,586.
Chief executive Bill Grimsey said: “Against tougher market conditions, our priority is to accelerate our strategic initiatives, particularly the Iceland refit programme, the roll-out of Premier and our drive into the delivered foodservice market through Woodward.”
