Ban on tobacco displays hits sales at Booker's Makro
The cash-and-carry giant Booker outlined the huge impact the display ban on tobacco and black market cigarettes are having on its new Makro division yesterday.
Like-for-like sales of tobacco at Makro crashed 20.8 per cent in the three months to the end of June compared with a year ago.
Booker's chief executive, Charles Wilson, bought the loss-making Makro last year and expects it to take three to five years to turn around.
Tobacco sales have always been a discretionary purchase at Makro, whose customers tend to be small businesses rather than corner shops, so it has been hit particularly hard by the display ban. At Booker, where tobacco is a much bigger part of its total revenues, like-for-like tobacco sales were off by only 2.5 per cent.
Mr Wilson has a big task at Makro. Booker sales grew 1 per cent compared with a 6 per cent fall in Makro, like-for-like figures showed.
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 2 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 4 Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
UK weather: Warning for more snow and ice as freezing temperatures and gales hit Britain
Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations
AirAsia flight QZ8501 missing: Search for plane carrying 162 passengers from Indonesia to Singapore suspended overnight
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Millions of Britons struggling to feed themselves and facing malnourishment
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
Immigrants make UK racist, says Ukip councillor Trevor Shonk
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...