Parfetts boosts like-for-like sales by 4.7% to £634 million
Parfetts saw sales rise from £605 million to £634 million in the year ended June 2023. Profit has not been disclosed.
The 4.7% increase in like-for-like sales comes after a year of investment in protecting retailer margins through an expanded promotional programme, including major events like the annual Parfest, which saw record sales of over £21 million in the week to 14 July.
In the last financial year, the eight-depot wholesaler also expanded its Go Local fascia to more than 1,100 stores.
As a result of its performance, all eligible Parfetts colleagues were awarded a 4% tax-free sales bonus in July.
Commenting on the results, Guy Swindell, joint managing director of Parfetts, said: “We’ve placed our retailers at the heart of our business. As an employee-owned company, we can invest in creating great margins and providing a great experience, whether you come into the depot or order online.
As we continue to expand, we are seeking to aggressively grow our Go Local, Go Local Extra and The Local fascias, while our new depot in Birmingham has raised the bar for the industry and gives us a base to service the Midlands and M40 corridor.”
The company is also investing in reducing its carbon footprint by rolling out LED lighting and solar panels at its depots across the UK. The move will also generate cost savings that help drive value across the business.
Noel Robinson, joint managing director of Parfetts, said: “It’s essential that our retailers enjoy a best-in-class experience, however they choose to do business with us. Parfetts has increased investment in its digital platforms and logistics to ensure our delivery offer is reliable and scaleable.
“Parfetts is seeing online orders grow, and they now account for 40% of our total sales. This has been achieved without a drop in cash & carry sales. Online allows us to extend our geographical reach and support more retailers.”
Parfetts opened its eighth depot in Birmingham in March and has seen it perform ahead of expectations.
Published Date: August 8, 2023
