INDUSTRY NEWS
33
NATIONAL
Metcash reports a 10% increase in supermarket sales Major Wholesaler of Food and Groceries to the independent supermarket, Liquor and Hardware sector, Metcash, has reported a 10% increase to $8.3 billion in supermarket sales for the year ended 30 April 2021. This is an 11.6% increase, excluding the impact of Drakes. Metcash Group CEO Jeff Adams describes the last 12 months as a ‘standout year’ for the business, with record sales underpinning significant earnings growth and record operating cash flow. Group reported revenue, including charge-through sales, increased 10.1% to a record $16.4bn, with significant growth in sales volumes across all Pillars. Group underlying EBIT increased 19.9% to $401.4m with strong volume growth and improved leverage in all Pillars. In Food, increased earnings were underpinned by higher sales volumes and an improvement in the contribution from joint venture stores. In Liquor, significant earnings growth was underpinned by strong demand in the retail network, partly offset by lower sales to ‘on-premise’ customers due to the impact of COVID trading restrictions. In Hardware, exceptional earnings growth was driven by a significant increase in DIY sales, a return to growth in Trade sales and the contribution from acquisitions. “All Pillars performed strongly, and the Group has successfully navigated significant challenges and uncertainty associated with COVID, while continuing to implement our MFuture growth initiatives,” he says.
This, together with the continuation of an increased preference for local neighbourhood shopping and the migration from cities to regional areas, has driven strong sales growth across our independent retail networks, significantly improving their overall health.” Strong sales growth was delivered in all states, particularly in Victoria, where demand was impacted by extended Covid-related lockdowns. The IGA retail network, says Metcash, continued to benefit from a shift in consumer behaviour. This included an increased preference for local neighbourhood shopping, migration from cities to regional areas, more flexible working and cooking at home, and the success of MFuture initiatives to retain new and returning customers gained throughout Covid-19. Performance-wise, the IGA retail network performed strongly, with like-for-like sales increasing 10.5% compared with the prior comparative year. Source: Metcash
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