Booker is close to having 8,000 symbol stores following the addition of 397 partnered sites in its latest six month trading period.
The growth to 7,787 sites was revealed in Tesco’s H1 interim results, which also outlined a 1.9% dip in like for like sales across the group. This decline was attributed to weakened tobacco demand and lower volumes in its Best Food Logistics foodservice arm.
In retail specifically, the addition of new symbol partners drove a 0.6% rise in sales to £1.65bn. The supermarket said: “The independent convenience sector is seeing some trading softness, with some customers switching to larger store formats. Booker’s symbol brands in contrast performed strongly, with sales up 3.1%, supported by a further improvement in availability.”
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In comparison One Stop opened six stores during the period. Responding to Better Retailing on why growth in One Stop was slower than Booker, Tesco chief executive Ken Murphy said: “We’re pleased in One Stop’s performance. It had a strong performance last year, so it’s lapping some really strong numbers.
“The independence retail sector is growing behind the total market because it’s had an incredibly strong three years of growth during Covid. You’re seeing that normalise.”
Commenting on whether the firm had seen an increase in crime at its Booker cash and carries, Murphy added: “We’re seeing nothing particularly unusual. We deal with incidents all the time, but nothing exceptional.”
