Wednesday, May 31, 2017

News: Crawshaw hits 50

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Crawshaw Group PLC, the Rotherham-based fresh meat and food to go retailer, is heading past the 50 store mark with a new outlet close to home at the Crystal Peaks Shopping Centre in Sheffield.

The AIM-listed Hellaby firm announced growth plans in 2015 that included £200m of investment, opening 200 stores and creating 2,500 jobs. It secured new investment in April this year that is expected to enable Crawshaw to restart its accelerated new store opening programme, with an initial focus on factory shop locations.

The new store in one of the centre's exterior units will be opening this week next to McDonald's and opposite supermarket Sainsbury's. It was previously home to Blockbuster.

Lee Greenwood, centre manager at Crystal Peaks, said: "We are delighted to be welcoming another great high street name to the Crystal Peaks family of shops. Crawshaw's is one more exciting new name joining the complex as we look forward to building on our current success in the second half of 2017.

"Through 2016 we attracted 13 million visitors to Crystal Peaks and by continuing to attract the best names on the high street we can expect to further improve on that figure, ensuring we offer everybody a great shopping experience."

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Operating from 49 stores, turnover for the full year ended January 29 2017 was up 19% at Crawshaw to £44.2m from the £37.1m reported in the previous year. Investing in expansion plans, the group made a loss before tax of £1.4m, an increase on the loss of £0.3m in the previous year.

With a more disciplined approach to growth, Crawshaw said that it has a sufficient pipeline and capability to open a further four factory shops during the current financial year.

Noel Collett, chief executive officer at Crawshaw plc, said: "The UK grocery market will remain competitive and, with industry-wide pressures emerging in commodities and labour costs, the UK consumer outlook will continue to be more challenging than we have seen in recent years. Whilst we would ordinarily expect these to have a modest impact on margin in the short term we believe that, with our cost management measures and margin additive initiatives, together with the expected cost reduction in our business rates, we are well placed to navigate through this challenging environment.

"This year has started in line with our expectations as we continue to build on the momentum and improvements from the last six months.

"Our clear value proposition, underpinned by our unique vertically integrated concept, remains highly differentiated and competitive which we believe will further strengthen our retail offering. Furthermore, with the performance of our standalone factory shops being a real highlight of the year, we are very excited at opening more of this format."

Crawshaw website

Images: Crawshaw / twitter


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