Nisa Retail, the delivered wholesaler and convenience retail specialist, has reported a positive H1 trading period for the 26 weeks to 1 October 2017, which shows total sales of £728m, a rise of 12.4% on last year. Nisa also announced that Arnu Misra (pictured) has been appointed interim CEO.
The group saw strong non-tobacco sales of £505m, an uplift of 0.8% on a like-for-like basis, with tobacco sales falling 2.7%, better than the wider market. The core retail trade showed a like-for-likes rise 1.9%.
Sales were driven by strong growth in Nisa's new stores and new Member recruitment, with 409 new stores in H1 (210 from the continued McColls Retail Group roll out), compared to 188 last year, with net new at +284 (last year -110).
The robust performance was aided by new business wins, driven by both existing Members expanding their estates and significant new Member recruitment. The strong Member recruitment reflected continued investment in our offer, a good return from marketing initiatives, and Nisa’s award winning own label range.
The company also welcomes Arnu Misra as interim CEO. He has been an Independent Non-Executive Director at Nisa since November 2016. He is a highly-experienced retail executive, having held significant senior executive roles at Matalan, Asda, and Loblaw’s in Canada. He also spent six years as CEO of private equity backed Cannons Health, doubling its membership base before selling to Nuffield Health.
Misra has a strong track record developing value for stakeholders and is highly experienced working with low cost business operating models.
He takes over the role from Nick Read, who joined in December 2014 with a remit to stabilise and set out a future strategic direction for the Company and its Members.
Commenting on the half year results and interim CEO announcement, Nisa Chairman Peter Hartley said, “I am pleased to report strong trading in the first six months of the year. We have continued to serve our existing Members well, and as a result new Member recruitment has shown significant gains.
'We are delighted to have Arnu as interim CEO; he has a wealth of retail experience and is ideally placed to lead Nisa as we seek to optimise the service, benefits and opportunities we can bring our Members.”
Arnu Misra, interim CEO of Nisa, commented, “I am pleased to be leading Nisa at a time of great change for the convenience sector as top-up shopping continues to increase. I have spent many years working in the retail industry and am looking forward to drawing on this experience to provide Nisa Members with an exceptional value proposition that delivers for their customers.
'I am pleased to see strong new Member recruitment in our H1 numbers and look forward to a busy final quarter, as the important festive trading seasons draws near.”