Restructure reaps dividends
Wyevale Garden Centres has increased sales for the 16 weeks to April 24 by 13.7 per cent with a like-for-like sales increase of 11 per cent.

The retailer said the period accounted for 27 per cent of annual sales. However, the next 10 weeks will be even more crucial in terms of horticultural product sales, representing 31 per cent of annual sales.

The results, unveiled at the retailer's annual general meeting, were accompanied by details of a strategy review that is under way.

Strutt and Parker have been employed to conduct an analysis of the retailer's property portfolio. The retail format, ranges and consumer proposition are also under scrutiny.

The retailer said it would consider acquisitions to improve its market position, but preferred to drive returns in its existing business.

Seymour Pierce analyst Richard Ratner said: 'This confirms our view that Wyevale - concentrating on visual merchandising, product and large stores, and chucking out the dross end of its portfolio - has the potential to double its profits over the next four to five years.'