Rowan enjoys record results as discount sector continues to expand
Discount channel wholesaler Rowan has reported its strongest annual figures ever following a rebrand and a company-wide review of its strategic direction.
In 2013, the company saw its turnover rise by 15.5% year-on-year to reach £66.8 million.
This represents Rowan’s best results to date and also follows an investment of over £1 million in facilities at the firm’s Basildon headquarters and an expansion of its warehouse capacity by 33%.
Rowan was particularly successful in Europe, with business doubling in some territories.
Never Miss a Retail Update!Chief executive Alan Saywell said Rowan had benefited from the continuing expansion of the discount channel which he expects to remain strong despite an improvement in the wider economy.
He added: “77% of discount shoppers are from ABC1 social economic groups, highlighting that a wide section of the population now shop in discounters. Even more strikingly, 85% of shoppers say they intend to continue using discounters even after their personal financial situation improves. We feel this is evidence that there has been a cultural change, and discount shops are forging a new niche for themselves within the retail market, making the sector recession-proof.”
