Instore on the mend after December profit warning

Value retailer Instore unveiled sparkling sales at Christmas, when like-for-likes rose 4.6 per cent in the six weeks to January 13.

This positive performance came despite a profit warning issued last month, following deteriorating market conditions and distribution centre difficulties.

Total like-for-likes also grew 2.3 per cent for the 20 weeks to January 13. Recently introduced systems have stabilised at the distribution centre and performance has improved, resulting in a better flow of stock and increased on-shelf availability.

The value of seasonal stock was 30 per cent less in 2006 than the previous year. The company said it will focus on clearing the large residue of aged stock over the coming months.