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Conviviality Retail

February 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Conviviality has reported its H1 results which saw it close 24 problematic Bargain Booze units to leave 592. The managed reduction of the brand will continue into H2, after which the expansion programme starts by reopening stores in better locations. Conviviality sells its product to its franchisees and makes a wholesale margin. Overall, wholesale sales decreased 5.1% to Â£183.7m reflecting the lower store count but average sales by franchisees per store on the remaining estate during H1 (a better reflection of the quality of the present estate) were up 4.9%. In fact, franchisees are reporting like-for-like growth for the first time in two years. Gross margin improved 30 basis points to 7.8%. The capital s ...

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Conviviality Retail

February 2014

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