Co-op own label sales growing for Nisa stores
Weekly sales of £1k in partnered stores ‘Co-op will ensure they continue to benefit’
Nisa retailers who have taken on the Co-op own-label range are taking an average of £1,000 in weekly sales from the brand.
According to Co-op’s interim financial results for the six months ending 26 July, more than 90% of Nisa retailers have taken on the range since the merger last year.
In total, weekly own-label sales across Nisa’s total partnered estate exceeded £2.5m.
A Co-op spokesperson said the multiple is approaching its target of having 10% of Nisa sales from its own-label range. “The integration of Nisa into the wholesale business has transformed the proposition Nisa partners are able to offer their customers, and we will work to ensure they continue to benefit from the wider offering,” they said.
Nisa and Costcutter retailers have more than 2,000 products from Co-op’s own-label range. Operating profit for Co-op’s wholesale business, which also includes the independent Co-operatives across the UK, rose annually from £80m for the first half of 2018 to £120m for same period in 2019.
Revenue for the wholesale business increased annually from £269m to £703m.
Of the group’s £5.4bn revenue in the period, Nisa contributed £400m.
A Nisa spokesperson said: “We are in a strong position to build on 2018’s steady performance and leverage the benefits of the Co-op ownership to strengthen our offering and service to independent retailers and wholesalers, and to embark on the next exciting phase of Nisa’s evolution.”
Co-op also plans to have 150 franchise stores opened by 2022, following the opening of six over the past year on university campuses. “The average sales uplift in the franchised stores has been more than 80%,” said the Co-op spokesperson.
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