Tuesday, June 23, 2015

News: Crawshaw to open five more stores


Crawshaw Group PLC, the Rotherham-based fresh meat and food to go retailer, is set to open five more stores before Christmas as its national expansion gathers pace.

The AIM-listed firm currently has 23 retail outlets throughout Yorkshire, Lincolnshire, Nottinghamshire and Humberside and recently moved onto Sandbeck Industrial Estate at Hellaby, occupying a 12,000 sq ft unit for the manufacture and distribution of specialist foods.

At this afternoon's AGM, the group will outline that in the eight weeks since the last statement on the April 23, like-for-like sales for the extended group are up 2.3%, building further on the increase of 6.4% achieved over the same period last year. The strong trading performance is spread across the combined store portfolio and Crawshaw has seen positive growth in both customer numbers and average spend.

Reporting its latest financial results for the year ended January 31 2015, Crawshaws saw sales increase by 17% to £24.6m which saw EBITDA (earning before taxes) increase 15% to £1.6m (2014: £1.4m). Excluding infrastructure costs the adjusted EBITDA was 30% higher than last year at £1.8m.

Crawshaw has set itself an ambitious target of 200 shops within eight years. Last year it announced details of the placing of new shares in a bid to raise nearly £9m to support the acceleration of its store opening programme.

It recently acquired 11 more retail butchers units and a distribution centre in the North West from Gabbotts Farm Limited in a £3.9m deal. Crawshaw said that the integration "has been very smooth and we are well underway with developing the customer proposition in all stores" and that "post-integration initiatives have enhanced our sales and profitability, and we will continue with the operational synergies and extension of the supply chain network."

Crawshaw recently opened its first store in Leeds, at the Merrion Centre, and a Bolton store opens in July. A further four stores are planned to open before Christmas taking the portfolio to 39 stores.

Richard Rose, chairman of Crawshaw, said: "Our sales, customer numbers and average spend continue to increase reflecting the excellent quality and value we offer. Under the leadership of our new CEO Noel Collett, the board continue to build and develop the resource, infrastructure and initiatives to grow sales within the existing estate and deliver the roll out strategy in a controlled and disciplined manner. It is a very exciting time for the business and we look to the future with great confidence."

Crawshaw website

Images: Crawshaw


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