NamNews reports that the group also revealed it is on target to open its twentieth Kwiksave store by Christmas.
Costcutter recruited another 112 independent retailers to the brand between January and July, with 41 more awaiting approval. It is also looking at acquisition targets to increase its company-owned store portfolio and is to start supply deals with several large groups. And it will soon launch off license franchise Rhythm & Booze, which it bought out of administration in March and is currently being trialled.
Meanwhile, Costcutter said its sixth Kwiksave store will open in September just four months on from the first outlet under the new value format was opened in Bolton. The group said the format was proving popular with shoppers and it is now on course to open 20 stores by Christmas, up from its original target of 12. The Kwiksave brand is part of the group’s three fascia convenience strategy of Kwiksave, Costcutter and myCostcutter.
Nick Ivel, chief executive, said: “Despite continuing to operate in a tough economy Costcutter Supermarkets Group has continued its year-on-year growth. These latest performance figures underline the excellent work being done by our retailers and everyone within the business.
“Retailer recruitment is buoyant. We are seeing more and more independent retailers joining a symbol group for the first time and our recruitment of retailers from our rivals is also increasing."