Food Lover’s Market Up and away
Food Lover’s has let it be known in a trading update that according to Nielsen, they have increased (sales of? we’re assuming) groceries and perishables by +37% for the year and +44% for the six months just gone. Butchery (+22%), bakery (+23%), and fresh produce (+26%) showed similarly pleasing growth over the same period. Nielsen also reported that the business was “ahead of its competitors” with a +24% increase in trading – all of this based on a defined basket of categories, excluding liquor. According to Nielsen, competitive businesses showed an average growth (in “trading”, presumably) of +8% for the period. How has it achieved all of this? “We knew that the negative impact (of the pandemic) on consumer confidence and the household budget would see consumers placing a high premium on the three key areas of hygiene, value and variety,” says CEO Brian Coppin. “Fortunately, we were able to hit it out of the park as we were already geared to deliver on all of these expectations.”
Comment: We prefer to measure a business by its growth in turnover, operating profit, margin and market share. But these numbers, whatever they are, look solid.