Christmas takings jump at takeover target Nisa

Sales at convenience store operator Nisa Retail jumped over Christmas as it benefited from the collapse of Palmer & Harvey.

The group, which is in the process of being taken over by the Co-operative, saw sales rise by 17.7 per cent to £277.2 million in the ten weeks to 31 December. It was boosted by new contracts with Costcutter and Mccoll’s, which came after Palmer & Harvey fell into administration in November.

Like-for-like sales – stripping out the impact of an increase in the numbers of stores served – increased by 1.7 per cent during the festive trading period.

Boss Arnu Misra said: “I’m pleased to report that Nisa has enjoyed good Christmas trading. We successfully invested in promotions to assist our members over the key festive trading period, resulting in positive likefor-likes and good organic growth in store numbers. Nisa has delivered a strong programme to help drive sales and footfall.”

Co-op Group’s £137.5m takeover deal is awaiting regulatory approval.