Value grocer Netto reported an 11 per cent increase in UK turnover to £696.4 million for the 12 months to December 31 last year and has vowed to deliver further growth this year.
Netto UK managing director Richard Lancaster said trade is “excellent” and the grocer is enjoying “very robust” like-for-like sales, which would lead to further sales and profits growth for this year.
Netto UK, which is part of the Danish grocery chain, is forging ahead with the refurbishment of its 184 UK stores, which includes new shelving, cleaner layout and better product adjacencies. Lancaster said that following each refurbishment the grocer has “seen strong double-digit growth”, with slight variations according to the scale of the works.
The growth stems from a “highly focused team intent on delivering our unique quality and value message”, according to Lancaster. He added: “Consumers increasingly want the best value for money on their weekly shop and know that a trip to Netto will provide this without any compromise on quality.”
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